Franklin Street Advisors Inc. NC Invests $298,000 in DoorDash, Inc. (NASDAQ:DASH)

Franklin Street Advisors Inc. NC purchased a new position in DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,775 shares of the company’s stock, valued at approximately $298,000.

Several other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. grew its holdings in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of DoorDash in the 2nd quarter worth $32,000. Quest Partners LLC raised its stake in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of DoorDash during the third quarter valued at $54,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $2,710,274.87. The trade was a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,525. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,032,694 shares of company stock valued at $175,964,786. Insiders own 7.92% of the company’s stock.

DoorDash Stock Down 2.7 %

NASDAQ DASH traded down $4.62 during trading on Friday, hitting $169.10. 1,025,854 shares of the stock traded hands, compared to its average volume of 2,147,162. The company has a market capitalization of $70.24 billion, a P/E ratio of -375.78, a price-to-earnings-growth ratio of 13.56 and a beta of 1.71. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $181.78. The firm has a 50-day simple moving average of $172.80 and a 200-day simple moving average of $143.21.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) earnings per share. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, research analysts predict that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Benchmark boosted their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. Royal Bank of Canada lifted their target price on shares of DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. KeyCorp raised their price target on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Piper Sandler increased their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $172.79.

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.