Cetera Investment Advisers Lowers Position in DoorDash, Inc. (NASDAQ:DASH)

Cetera Investment Advisers cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,498 shares of the company’s stock after selling 228 shares during the quarter. Cetera Investment Advisers’ holdings in DoorDash were worth $2,264,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of DASH. Vanguard Group Inc. lifted its position in shares of DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after acquiring an additional 317,502 shares in the last quarter. Capital World Investors lifted its position in shares of DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of DoorDash by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock worth $763,198,000 after purchasing an additional 86,667 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

Shares of DASH opened at $202.00 on Monday. The company has a market capitalization of $84.86 billion, a price-to-earnings ratio of 748.15 and a beta of 1.68. The company’s 50 day simple moving average is $186.03 and its 200 day simple moving average is $182.51. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the business posted ($0.06) earnings per share. DoorDash’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 1,398 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the sale, the director now directly owns 14,778 shares of the company’s stock, valued at approximately $3,006,584.10. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Prabir Adarkar sold 20,161 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $4,101,755.45. Following the transaction, the chief operating officer now owns 905,061 shares in the company, valued at $184,134,660.45. This trade represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 158,573 shares of company stock worth $30,407,073. Corporate insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

DASH has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $210.00 target price on shares of DoorDash in a report on Wednesday, May 7th. The Goldman Sachs Group lifted their target price on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Barclays lifted their target price on DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their target price on DoorDash from $205.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Loop Capital boosted their price objective on DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $209.97.

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.