PNC Financial Services Group Inc. Boosts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

PNC Financial Services Group Inc. lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 40.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,431 shares of the company’s stock after acquiring an additional 4,475 shares during the period. PNC Financial Services Group Inc.’s holdings in DoorDash were worth $1,526,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DASH. HighTower Advisors LLC grew its stake in shares of DoorDash by 5.4% during the third quarter. HighTower Advisors LLC now owns 15,558 shares of the company’s stock worth $1,237,000 after acquiring an additional 798 shares during the last quarter. Invesco Ltd. grew its stake in shares of DoorDash by 169.4% during the third quarter. Invesco Ltd. now owns 999,612 shares of the company’s stock worth $79,439,000 after acquiring an additional 628,561 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of DoorDash by 724.9% during the third quarter. Acadian Asset Management LLC now owns 48,700 shares of the company’s stock worth $3,865,000 after acquiring an additional 42,796 shares during the last quarter. Mariner LLC grew its stake in shares of DoorDash by 23.1% during the third quarter. Mariner LLC now owns 41,435 shares of the company’s stock worth $3,293,000 after acquiring an additional 7,776 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of DoorDash by 478.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 86,267 shares of the company’s stock worth $6,856,000 after acquiring an additional 71,345 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DoorDash stock opened at $113.88 on Friday. The stock has a market capitalization of $46.57 billion, a PE ratio of -102.05, a price-to-earnings-growth ratio of 28.55 and a beta of 1.69. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $143.34. The business has a 50 day simple moving average of $118.13 and a 200-day simple moving average of $116.60.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business’s revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DASH has been the subject of a number of research reports. JMP Securities decreased their target price on DoorDash from $160.00 to $140.00 and set a “market outperform” rating for the company in a report on Thursday, May 2nd. Royal Bank of Canada decreased their target price on DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $137.00 target price on shares of DoorDash in a report on Thursday, May 2nd. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of DoorDash in a report on Thursday, May 2nd. Finally, Citigroup lifted their target price on DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.79.

Insider Buying and Selling

In related news, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $139.09, for a total transaction of $9,319,030.00. Following the completion of the sale, the director now directly owns 36,482 shares in the company, valued at $5,074,281.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $139.09, for a total transaction of $9,319,030.00. Following the completion of the sale, the director now directly owns 36,482 shares in the company, valued at $5,074,281.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $138.98, for a total value of $694,900.00. Following the sale, the chief financial officer now owns 391,425 shares of the company’s stock, valued at $54,400,246.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 548,613 shares of company stock worth $68,171,311. 7.92% of the stock is owned by corporate insiders.

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.