ProShare Advisors LLC Grows Stock Position in DoorDash, Inc. (NASDAQ:DASH)

ProShare Advisors LLC grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 23.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 446,224 shares of the company’s stock after purchasing an additional 83,788 shares during the quarter. ProShare Advisors LLC owned approximately 0.11% of DoorDash worth $74,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quantinno Capital Management LP grew its stake in shares of DoorDash by 324.9% during the 4th quarter. Quantinno Capital Management LP now owns 288,004 shares of the company’s stock valued at $48,313,000 after acquiring an additional 220,228 shares during the period. Morgens Waterfall Vintiadis & Co. Inc. bought a new position in shares of DoorDash during the 4th quarter valued at approximately $3,858,000. Pathstone Holdings LLC grew its stake in shares of DoorDash by 15.5% during the 4th quarter. Pathstone Holdings LLC now owns 47,376 shares of the company’s stock valued at $7,948,000 after acquiring an additional 6,359 shares during the period. Parkwood LLC bought a new position in shares of DoorDash during the 4th quarter valued at approximately $9,324,000. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of DoorDash by 7.8% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 76,558 shares of the company’s stock valued at $12,964,000 after acquiring an additional 5,512 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 8,116 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the completion of the sale, the insider now directly owns 105,162 shares in the company, valued at $21,395,208.90. This represents a 7.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 1,398 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $284,423.10. Following the sale, the director now owns 14,778 shares of the company’s stock, valued at $3,006,584.10. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,573 shares of company stock worth $30,407,073 over the last three months. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

DoorDash stock opened at $197.10 on Friday. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25. The company has a market cap of $82.80 billion, a PE ratio of 730.00 and a beta of 1.68. The stock’s 50 day moving average price is $185.67 and its 200 day moving average price is $181.82.

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

Wall Street Analyst Weigh In

DASH has been the subject of several recent analyst reports. Morgan Stanley dropped their price target on DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group upped their price target on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Mizuho upped their price target on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Bank of America dropped their price target on DoorDash from $245.00 to $235.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Wells Fargo & Company dropped their price target on DoorDash from $201.00 to $198.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $209.97.

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.