Merit Financial Group LLC Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Merit Financial Group LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,001 shares of the company’s stock, valued at approximately $503,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of DoorDash by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 79,476 shares of the company’s stock valued at $8,645,000 after acquiring an additional 1,828 shares during the period. Blair William & Co. IL acquired a new stake in DoorDash during the 2nd quarter worth $395,000. Pacer Advisors Inc. boosted its stake in DoorDash by 1.6% during the 2nd quarter. Pacer Advisors Inc. now owns 18,927 shares of the company’s stock worth $2,059,000 after purchasing an additional 302 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in DoorDash by 74.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 54,122 shares of the company’s stock worth $5,887,000 after purchasing an additional 23,138 shares during the last quarter. Finally, Insigneo Advisory Services LLC acquired a new position in DoorDash in the second quarter valued at $223,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,019,333 shares of company stock valued at $177,556,541 in the last ninety days. Insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DASH. Susquehanna increased their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their target price on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $200.00 target price on shares of DoorDash in a report on Thursday, January 2nd. JPMorgan Chase & Co. increased their price target on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price objective on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $176.97.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $183.13 on Friday. The business’s fifty day moving average price is $173.85 and its two-hundred day moving average price is $147.67. The stock has a market cap of $76.07 billion, a PE ratio of -406.96, a price-to-earnings-growth ratio of 1.88 and a beta of 1.71. DoorDash, Inc. has a one year low of $99.32 and a one year high of $183.48.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities research analysts predict that DoorDash, Inc. will post 0.27 earnings per share for the current fiscal year.

DoorDash Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.