Exchange Traded Concepts LLC Invests $508,000 in DoorDash, Inc. (NASDAQ:DASH)

Exchange Traded Concepts LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,027 shares of the company’s stock, valued at approximately $508,000.

Several other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in DoorDash by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 65,706 shares of the company’s stock valued at $7,146,000 after purchasing an additional 7,853 shares in the last quarter. Mackenzie Financial Corp raised its position in DoorDash by 4.6% during the second quarter. Mackenzie Financial Corp now owns 18,073 shares of the company’s stock valued at $1,966,000 after purchasing an additional 789 shares in the last quarter. Algert Global LLC purchased a new stake in DoorDash during the second quarter valued at about $338,000. Quarry LP purchased a new stake in DoorDash during the second quarter valued at about $60,000. Finally, Cetera Investment Advisers raised its position in DoorDash by 7.2% during the second quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock valued at $1,278,000 after purchasing an additional 788 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,375. This represents a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,040,758 shares of company stock valued at $181,434,201. Company insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DASH. BMO Capital Markets lifted their price objective on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. UBS Group lifted their price objective on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler lifted their price objective on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America lifted their price objective on DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Argus raised DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.18.

DoorDash Price Performance

Shares of DASH stock opened at $188.57 on Friday. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $189.23. The firm has a fifty day moving average price of $175.06 and a 200-day moving average price of $150.38. The company has a market cap of $78.33 billion, a price-to-earnings ratio of -419.04, a PEG ratio of 1.85 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm posted ($0.19) EPS. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities research analysts expect that DoorDash, Inc. will post 0.29 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.