Hennion & Walsh Asset Management Inc. Buys 2,294 Shares of DoorDash, Inc. (NASDAQ:DASH)

Hennion & Walsh Asset Management Inc. lifted its position in DoorDash, Inc. (NASDAQ:DASH) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,910 shares of the company’s stock after purchasing an additional 2,294 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in DoorDash were worth $3,843,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. increased its stake in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of DoorDash in the fourth quarter valued at $36,000. Quest Partners LLC increased its position in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Hollencrest Capital Management purchased a new stake in DoorDash during the third quarter valued at $54,000. Finally, Quarry LP bought a new position in DoorDash during the second quarter valued at $60,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DASH shares. Oppenheimer boosted their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Jefferies Financial Group boosted their price objective on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Benchmark raised their price objective on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. BMO Capital Markets increased their price target on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their price objective on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.97.

DoorDash Price Performance

Shares of DASH stock opened at $170.85 on Friday. The stock’s 50-day moving average is $173.54 and its 200 day moving average is $145.09. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $181.78. The company has a market cap of $70.97 billion, a P/E ratio of -379.67, a PEG ratio of 1.77 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the firm posted ($0.19) earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was 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 represents a 75.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 108,334 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $270,105. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,019,333 shares of company stock valued at $177,556,541 over the last 90 days. Insiders own 7.92% of the company’s stock.

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.