Miracle Mile Advisors LLC Buys New Holdings in DoorDash, Inc. (NASDAQ:DASH)

Miracle Mile Advisors LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,580 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DASH. Parkside Financial Bank & Trust lifted its holdings in shares of DoorDash by 361.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after buying an additional 307 shares in the last quarter. Valley National Advisers Inc. bought a new stake in DoorDash in the 4th quarter valued at $43,000. SJS Investment Consulting Inc. lifted its stake in DoorDash by 26.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after purchasing an additional 98 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of DoorDash during the 4th quarter valued at about $49,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of DoorDash by 182.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 564 shares of the company’s stock valued at $56,000 after purchasing an additional 364 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $109.30, for a total value of $765,100.00. Following the completion of the sale, the chief financial officer now directly owns 424,223 shares of the company’s stock, valued at approximately $46,367,573.90. The transaction was disclosed in a filing with the SEC, which is available through this link. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Friday, June 28th. The stock was sold at an average price of $109.30, for a total transaction of $765,100.00. Following the completion of the sale, the chief financial officer now directly owns 424,223 shares of the company’s stock, valued at approximately $46,367,573.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Prabir Adarkar sold 8,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $109.98, for a total value of $879,840.00. Following the transaction, the chief operating officer now directly owns 1,002,787 shares in the company, valued at approximately $110,286,514.26. The disclosure for this sale can be found here. Insiders have sold 485,325 shares of company stock valued at $59,112,461 in the last 90 days. Company insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on DASH. JPMorgan Chase & Co. boosted their target price on DoorDash from $108.00 to $111.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $137.00 price objective on shares of DoorDash in a report on Thursday, May 2nd. Moffett Nathanson raised shares of DoorDash from a “neutral” rating to a “buy” rating and raised their target price for the company from $118.00 to $164.00 in a report on Thursday, April 11th. Citigroup boosted their price target on shares of DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Piper Sandler upgraded shares of DoorDash from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $53.00 to $127.00 in a research report on Friday, March 15th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $134.79.

DoorDash Stock Performance

Shares of DASH stock opened at $107.45 on Wednesday. The stock has a 50 day moving average price of $114.79 and a 200 day moving average price of $117.44. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $143.34. The firm has a market capitalization of $43.94 billion, a P/E ratio of -99.49, a P/E/G ratio of 27.50 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business’s revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.41) earnings per share. As a group, sell-side analysts forecast that DoorDash, Inc. will post 0.11 EPS for the current year.

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.