Park Avenue Securities LLC Purchases 203 Shares of DoorDash, Inc. (NASDAQ:DASH)

Park Avenue Securities LLC raised its position in DoorDash, Inc. (NASDAQ:DASH) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,452 shares of the company’s stock after buying an additional 203 shares during the quarter. Park Avenue Securities LLC’s holdings in DoorDash were worth $1,302,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its stake in shares of DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after purchasing an additional 307 shares during the period. Covestor Ltd grew its position in DoorDash by 101.2% during the third quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $40,000 after buying an additional 253 shares in the last quarter. Valley National Advisers Inc. purchased a new position in DoorDash during the fourth quarter worth about $43,000. SJS Investment Consulting Inc. grew its position in DoorDash by 26.9% during the fourth quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after buying an additional 98 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in DoorDash during the fourth quarter worth about $49,000. 90.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on DASH. JPMorgan Chase & Co. upped their price objective on DoorDash from $108.00 to $111.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Piper Sandler upgraded DoorDash from an “underweight” rating to a “neutral” rating and increased their target price for the company from $53.00 to $127.00 in a report on Friday, March 15th. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of DoorDash in a report on Thursday, May 2nd. Finally, Roth Mkm dropped their target price on DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $134.79.

Insider Activity

In other news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total value of $17,663,373.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other DoorDash 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 sale, the director now directly owns 36,482 shares of the company’s stock, valued at $5,074,281.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The disclosure for this sale can be found here. Insiders have sold 548,613 shares of company stock worth $68,171,311 over the last ninety days. Corporate insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $110.70 on Tuesday. The stock has a 50-day simple moving average of $117.19 and a two-hundred day simple moving average of $117.08. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $143.34. The firm has a market capitalization of $45.27 billion, a PE ratio of -102.50, a P/E/G ratio of 27.87 and a beta of 1.69.

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

About DoorDash

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.