First Trust Advisors LP Grows Stake in DoorDash, Inc. (NASDAQ:DASH)

First Trust Advisors LP raised its position in DoorDash, Inc. (NASDAQ:DASH) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,181,416 shares of the company’s stock after acquiring an additional 26,952 shares during the quarter. First Trust Advisors LP owned approximately 0.53% of DoorDash worth $365,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC boosted its holdings in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after buying an additional 3,498 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of DoorDash during the 3rd quarter worth $1,109,000. Tidal Investments LLC grew its position in shares of DoorDash by 19.9% during the 3rd quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock valued at $1,759,000 after acquiring an additional 2,049 shares during the period. Tri Ri Asset Management Corp purchased a new stake in shares of DoorDash in the 3rd quarter worth $6,250,000. Finally, Franklin Resources Inc. raised its holdings in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the transaction, the director now owns 18,285 shares in the company, valued at approximately $3,313,424.85. This trade represents a 71.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the completion of the sale, the chief operating officer now owns 887,348 shares of the company’s stock, valued at approximately $164,674,041.84. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,511 shares of company stock worth $30,308,544. Insiders own 7.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on DASH. Bank of America cut their price target on DoorDash from $245.00 to $235.00 and set a “buy” rating for the company in a report on Monday, April 7th. Citigroup reissued a “buy” rating on shares of DoorDash in a report on Saturday, March 8th. Barclays lifted their price target on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Mizuho increased their price objective on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Susquehanna lifted their target price on shares of DoorDash from $180.00 to $235.00 and gave the company a “positive” rating in a research note on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.88.

DoorDash Stock Performance

Shares of DASH stock opened at $181.24 on Friday. The stock has a 50 day moving average price of $188.90 and a 200 day moving average price of $176.44. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The firm has a market capitalization of $76.14 billion, a P/E ratio of 671.26 and a beta of 1.69.

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.