Merit Financial Group LLC Invests $503,000 in DoorDash, Inc. (NASDAQ:DASH)

Merit Financial Group LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, Holdings Channel reports. The fund bought 3,001 shares of the company’s stock, valued at approximately $503,000.

A number of other institutional investors have also recently added to or reduced their stakes in DASH. Envestnet Asset Management Inc. lifted its stake in shares of DoorDash by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 79,476 shares of the company’s stock valued at $8,645,000 after purchasing an additional 1,828 shares in the last quarter. Blair William & Co. IL purchased a new position in DoorDash in the second quarter valued at approximately $395,000. Pacer Advisors Inc. lifted its position in DoorDash by 1.6% during the second quarter. Pacer Advisors Inc. now owns 18,927 shares of the company’s stock valued at $2,059,000 after buying an additional 302 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in DoorDash by 74.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 54,122 shares of the company’s stock worth $5,887,000 after buying an additional 23,138 shares during the period. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of DoorDash in the second quarter worth $223,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In other news, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,019,333 shares of company stock valued at $177,556,541. Insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

DASH stock opened at $183.13 on Friday. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $183.48. The stock has a market capitalization of $76.07 billion, a price-to-earnings ratio of -406.96, a PEG ratio of 1.88 and a beta of 1.71. The stock’s fifty day moving average is $173.85 and its two-hundred day moving average is $147.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) EPS. As a group, analysts predict that DoorDash, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DASH. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of DoorDash in a report on Monday, October 7th. Susquehanna increased their target price on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley upped their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Evercore ISI lifted their price objective 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. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.97.

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.