Crossmark Global Holdings Inc. Grows Position in DoorDash, Inc. (NASDAQ:DASH)

Crossmark Global Holdings Inc. increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 144.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,050 shares of the company’s stock after purchasing an additional 2,988 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in DoorDash were worth $923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of DoorDash in the fourth quarter valued at $597,443,000. Capital World Investors boosted its holdings in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares during the period. Arrowstreet Capital Limited Partnership grew its position in DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after acquiring an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. increased its stake in DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of DoorDash by 46.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company’s stock worth $422,036,000 after purchasing an additional 800,322 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the completion of the sale, the director directly owned 22,545 shares of the company’s stock, valued at approximately $4,903,988.40. This trade represents a 57.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Prabir Adarkar sold 62,267 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the transaction, the chief operating officer directly owned 942,554 shares in the company, valued at approximately $191,027,419.18. The trade was a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 429,031 shares of company stock worth $94,584,086 over the last three months. 5.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DASH shares. Benchmark raised their price objective on shares of DoorDash from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. BMO Capital Markets reissued an “outperform” rating on shares of DoorDash in a research report on Tuesday, April 29th. Roth Capital set a $191.00 price objective on DoorDash and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price objective on DoorDash from $205.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, JMP Securities boosted their target price on DoorDash from $225.00 to $235.00 and gave the stock a “market outperform” rating in a research note on Thursday, June 12th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $220.53.

DoorDash Price Performance

Shares of DoorDash stock opened at $240.44 on Friday. The firm’s fifty day simple moving average is $216.76 and its 200-day simple moving average is $196.04. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $248.74. The stock has a market capitalization of $101.88 billion, a price-to-earnings ratio of 312.26 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the business posted ($0.06) earnings per share. DoorDash’s quarterly revenue was up 20.7% on a year-over-year basis. Analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share 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.