Donoghue Forlines LLC Acquires 7,591 Shares of DoorDash, Inc. (NASDAQ:DASH)

Donoghue Forlines LLC raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 168.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,110 shares of the company’s stock after purchasing an additional 7,591 shares during the period. Donoghue Forlines LLC’s holdings in DoorDash were worth $2,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in DoorDash by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 79,476 shares of the company’s stock valued at $8,645,000 after buying an additional 1,828 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of DoorDash by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 919,633 shares of the company’s stock valued at $100,051,000 after purchasing an additional 36,551 shares in the last quarter. Amalgamated Bank grew its position in shares of DoorDash by 13.4% in the second quarter. Amalgamated Bank now owns 22,880 shares of the company’s stock valued at $2,489,000 after purchasing an additional 2,710 shares in the last quarter. Blair William & Co. IL purchased a new stake in DoorDash during the 2nd quarter worth about $395,000. Finally, Pacer Advisors Inc. lifted its holdings in DoorDash by 1.6% during the 2nd quarter. Pacer Advisors Inc. now owns 18,927 shares of the company’s stock worth $2,059,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of several analyst reports. Needham & Company LLC upped their price target on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their target price on shares of DoorDash from $161.00 to $192.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Citigroup raised their price target on shares of DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $176.97.

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 14,219 shares of DoorDash stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,416,945.62. Following the sale, the chief financial officer now directly owns 380,993 shares of the company’s stock, valued at approximately $64,761,190.14. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 115,432 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $265,515. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,019,333 shares of company stock worth $177,556,541. 7.92% of the stock is currently owned by company insiders.

DoorDash Stock Down 0.2 %

NASDAQ:DASH opened at $177.39 on Thursday. The firm has a market capitalization of $73.69 billion, a P/E ratio of -392.79, a P/E/G ratio of 1.88 and a beta of 1.71. The company has a fifty day moving average of $173.66 and a 200 day moving average of $147.42. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $181.78.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. As a group, analysts anticipate that DoorDash, Inc. will post 0.27 EPS for the current 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.