First Horizon Advisors Inc. Raises Position in DoorDash, Inc. (NASDAQ:DASH)

First Horizon Advisors Inc. increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 86.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 656 shares of the company’s stock after purchasing an additional 304 shares during the quarter. First Horizon Advisors Inc.’s holdings in DoorDash were worth $94,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of DASH. O Shaughnessy Asset Management LLC lifted its position in shares of DoorDash by 29.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,565 shares of the company’s stock valued at $1,180,000 after buying an additional 1,944 shares during the last quarter. LRI Investments LLC purchased a new stake in DoorDash during the first quarter valued at about $105,000. Lazard Asset Management LLC lifted its holdings in DoorDash by 18,975.0% during the first quarter. Lazard Asset Management LLC now owns 2,289 shares of the company’s stock valued at $314,000 after purchasing an additional 2,277 shares during the last quarter. Kodai Capital Management LP bought a new position in DoorDash during the first quarter worth about $18,005,000. Finally, Janus Henderson Group PLC increased its stake in shares of DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after purchasing an additional 3,425,115 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In other news, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 547,753 shares of company stock valued at $84,544,996. 7.92% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective for the company in a report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. Morgan Stanley increased their price objective on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, September 19th. Finally, Oppenheimer increased their price target on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Stock Up 2.4 %

NASDAQ DASH opened at $177.24 on Friday. The company has a 50-day simple moving average of $153.61 and a two-hundred day simple moving average of $128.96. DoorDash, Inc. has a 12-month low of $92.56 and a 12-month high of $178.16. The firm has a market cap of $73.62 billion, a price-to-earnings ratio of -393.87, a PEG ratio of 13.31 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. DoorDash’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.19) EPS. Equities analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

DoorDash Company 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.