PNC Financial Services Group Inc. Purchases 676 Shares of DoorDash, Inc. (NASDAQ:DASH)

PNC Financial Services Group Inc. grew its position in DoorDash, Inc. (NASDAQ:DASH) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,565 shares of the company’s stock after purchasing an additional 676 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DoorDash were worth $2,364,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Baillie Gifford & Co. boosted its position in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC boosted its position in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares in the last quarter. Renaissance Technologies LLC grew its stake in DoorDash by 16.4% during the second quarter. Renaissance Technologies LLC now owns 2,787,843 shares of the company’s stock worth $303,262,000 after purchasing an additional 392,300 shares during the period. Bank of New York Mellon Corp lifted its stake in DoorDash by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 1,387,113 shares of the company’s stock valued at $150,890,000 after buying an additional 188,612 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of DoorDash by 92.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,285,096 shares of the company’s stock worth $139,793,000 after buying an additional 616,049 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Trading Up 1.0 %

NASDAQ:DASH opened at $179.10 on Tuesday. The firm’s 50 day moving average is $154.57 and its 200 day moving average is $129.52. DoorDash, Inc. has a 12 month low of $92.56 and a 12 month high of $179.13. The stock has a market capitalization of $74.40 billion, a PE ratio of -398.00, a price-to-earnings-growth ratio of 13.63 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Susquehanna increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. The Goldman Sachs Group increased their price target on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Thursday, September 19th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the sale, the chief financial officer now owns 396,152 shares in the company, valued at $50,651,994.72. This represents a 1.74 % 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, insider Keith Yandell sold 7,980 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $1,356,440.40. Following the sale, the insider now owns 124,221 shares in the company, valued at approximately $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 547,753 shares of company stock worth $84,544,996 over the last quarter. 7.92% of the stock is currently owned by company 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.