Park Avenue Securities LLC Raises Stake in DoorDash, Inc. (NASDAQ:DASH)

Park Avenue Securities LLC lifted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,167 shares of the company's stock after acquiring an additional 1,499 shares during the period. Park Avenue Securities LLC's holdings in DoorDash were worth $1,538,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Rakuten Securities Inc. boosted its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock valued at $25,000 after purchasing an additional 130 shares during the period. ORG Wealth Partners LLC bought a new position in shares of DoorDash in the fourth quarter worth approximately $36,000. Hollencrest Capital Management bought a new stake in DoorDash during the third quarter valued at approximately $54,000. Venturi Wealth Management LLC grew its stake in DoorDash by 39.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company's stock worth $61,000 after buying an additional 119 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of DoorDash in the 3rd quarter worth $69,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Tony Xu sold 108,332 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company's stock, valued at $255,375. This represents a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,019,333 shares of company stock worth $177,556,541. 7.92% of the stock is owned by insiders.

DoorDash Stock Up 2.1 %

Shares of DoorDash stock traded up $3.63 on Friday, reaching $174.48. The company's stock had a trading volume of 3,653,938 shares, compared to its average volume of 2,062,418. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $181.78. The firm's fifty day simple moving average is $173.60 and its two-hundred day simple moving average is $145.99.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. DoorDash's revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) EPS. Equities analysts predict that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $200.00 price objective on shares of DoorDash in a report on Thursday, January 2nd. Susquehanna upped their price objective on DoorDash from $140.00 to $180.00 and gave the stock a "positive" rating in a report on Friday, November 1st. KeyCorp lifted their price target on shares of DoorDash from $180.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, January 9th. Evercore ISI upped their price target on shares of DoorDash from $155.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on DoorDash from $137.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $175.97.

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.