First Horizon Advisors Inc. Raises Position in DoorDash, Inc. (NASDAQ:DASH)

First Horizon Advisors Inc. grew its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 86.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 656 shares of the company’s stock after acquiring an additional 304 shares during the period. First Horizon Advisors Inc.’s holdings in DoorDash were worth $94,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares during the period. Dragoneer Investment Group LLC increased its stake in shares of DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of DoorDash by 16.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,787,843 shares of the company’s stock worth $303,262,000 after acquiring an additional 392,300 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in DoorDash by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,387,113 shares of the company’s stock valued at $150,890,000 after acquiring an additional 188,612 shares during the period. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Evercore ISI raised their target price on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their target price on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. Oppenheimer raised their price target on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, Bank of America upped their price target on shares of DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Price Performance

NASDAQ:DASH opened at $177.24 on Friday. DoorDash, Inc. has a one year low of $92.56 and a one year high of $178.16. The business has a fifty day moving average price of $153.61 and a 200-day moving average price of $128.96. The firm has a market capitalization of $73.62 billion, a price-to-earnings ratio of -393.87, a price-to-earnings-growth ratio of 13.31 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS 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 analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, equities research analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at $50,651,994.72. This trade represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Insiders have sold 547,753 shares of company stock valued at $84,544,996 over the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

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.