SVB Wealth LLC Boosts Position in DoorDash, Inc. (NASDAQ:DASH)

SVB Wealth LLC boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 23.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,381 shares of the company’s stock after purchasing an additional 2,338 shares during the quarter. SVB Wealth LLC’s holdings in DoorDash were worth $1,224,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of DoorDash by 123.4% in the 1st quarter. Raymond James & Associates now owns 6,286 shares of the company’s stock valued at $737,000 after buying an additional 3,472 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of DoorDash by 43.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,825 shares of the company’s stock worth $448,000 after purchasing an additional 1,153 shares in the last quarter. American Century Companies Inc. increased its position in shares of DoorDash by 18.3% during the first quarter. American Century Companies Inc. now owns 4,444 shares of the company’s stock worth $521,000 after purchasing an additional 689 shares in the last quarter. US Bancorp DE lifted its holdings in shares of DoorDash by 204.6% in the 1st quarter. US Bancorp DE now owns 926 shares of the company’s stock valued at $109,000 after purchasing an additional 622 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of DoorDash by 305.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,553 shares of the company’s stock valued at $415,000 after purchasing an additional 2,677 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DASH shares. Morgan Stanley upgraded DoorDash from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $135.00 to $145.00 in a research note on Thursday, February 22nd. JMP Securities upped their price target on shares of DoorDash from $130.00 to $160.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 27th. Wells Fargo & Company increased their price target on shares of DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Benchmark began coverage on shares of DoorDash in a research note on Thursday, April 4th. They issued a “buy” rating and a $165.00 price objective on the stock. Finally, Royal Bank of Canada upgraded shares of DoorDash from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $175.00 in a research note on Monday, March 4th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.88.

DoorDash Trading Down 0.6 %

DASH stock opened at $130.10 on Friday. The firm has a 50 day moving average of $130.22 and a 200-day moving average of $106.42. The company has a market cap of $52.56 billion, a price-to-earnings ratio of -90.98, a PEG ratio of 15.69 and a beta of 1.79. DoorDash, Inc. has a 12-month low of $56.59 and a 12-month high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.24). The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.63) earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total value of $17,663,373.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the transaction, the director now directly owns 40,969 shares of the company’s stock, valued at approximately $4,529,942.33. The disclosure for this sale can be found here. Insiders sold 497,282 shares of company stock valued at $64,885,042 in the last 90 days. 9.59% of the stock is currently owned by insiders.

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.