PNC Financial Services Group Inc. Purchases 554 Shares of DoorDash, Inc. (NASDAQ:DASH)

PNC Financial Services Group Inc. boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,119 shares of the company’s stock after acquiring an additional 554 shares during the period. PNC Financial Services Group Inc.’s holdings in DoorDash were worth $2,872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Machina Capital S.A.S. raised its stake in DoorDash by 493.8% in the 4th quarter. Machina Capital S.A.S. now owns 8,925 shares of the company’s stock valued at $1,497,000 after acquiring an additional 7,422 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in DoorDash in the 4th quarter valued at about $508,000. Edgestream Partners L.P. bought a new stake in DoorDash in the 4th quarter valued at about $5,855,000. West Family Investments Inc. bought a new stake in DoorDash in the 4th quarter valued at about $217,000. Finally, Callan Family Office LLC purchased a new position in DoorDash during the 4th quarter valued at about $354,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

Shares of DASH stock opened at $183.50 on Friday. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The stock has a 50 day moving average price of $187.99 and a two-hundred day moving average price of $167.24. The company has a market capitalization of $77.09 billion, a P/E ratio of 679.63 and a beta of 1.70.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Evercore ISI reaffirmed an “outperform” rating on shares of DoorDash in a report on Monday. Wedbush lifted their target price on DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Truist Financial lifted their target price on DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Citigroup reaffirmed a “buy” rating on shares of DoorDash in a report on Saturday, March 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $210.00 target price (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $206.52.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 1,398 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the transaction, the director now owns 14,778 shares in the company, valued at $3,006,584.10. This represents a 8.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $178.74, for a total value of $19,363,261.68. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $268,110. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,062 shares of company stock worth $92,218,440. 7.92% of the stock is currently owned by insiders.

DoorDash 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.