ProShare Advisors LLC Buys 26,497 Shares of DoorDash, Inc. $DASH

ProShare Advisors LLC boosted its stake in DoorDash, Inc. (NASDAQ:DASH) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 468,236 shares of the company’s stock after acquiring an additional 26,497 shares during the period. ProShare Advisors LLC owned about 0.11% of DoorDash worth $85,945,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. JCP Investment Management LLC purchased a new position in DoorDash during the 1st quarter worth approximately $991,000. Godsey & Gibb Inc. increased its position in DoorDash by 1,510,137.1% during the third quarter. Godsey & Gibb Inc. now owns 528,583 shares of the company’s stock worth $97,021,000 after buying an additional 528,548 shares during the period. Plato Investment Management Ltd purchased a new stake in DoorDash in the second quarter valued at approximately $1,024,000. Quantinno Capital Management LP lifted its stake in DoorDash by 4.9% in the first quarter. Quantinno Capital Management LP now owns 655,095 shares of the company’s stock valued at $98,363,000 after buying an additional 30,881 shares during the last quarter. Finally, Monetta Financial Services Inc. purchased a new stake in DoorDash in the second quarter valued at approximately $1,015,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DASH. Roth Capital raised their target price on shares of DoorDash from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Moffett Nathanson reduced their price target on shares of DoorDash from $280.00 to $278.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of DoorDash from $250.00 to $262.00 in a research report on Wednesday, August 5th. Finally, TD Cowen restated a “buy” rating on shares of DoorDash in a research note on Tuesday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.88.

Insiders Place Their Bets

In related news, COO Prabir Adarkar sold 8,738 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $180.85, for a total transaction of $1,580,267.30. Following the transaction, the chief operating officer owned 921,473 shares of the company’s stock, valued at $166,648,392.05. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $186.19, for a total value of $4,305,643.75. Following the completion of the transaction, the director owned 10,361 shares of the company’s stock, valued at $1,929,114.59. The trade was a 69.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 326,305 shares of company stock worth $72,280,083. Corporate insiders own 44.90% of the company’s stock.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush upgraded DoorDash (DASH), while Cantor Fitzgerald reiterated its overweight rating, signaling continued confidence in the company’s growth outlook and market position. DoorDash upgraded at Wedbush DoorDash overweight rating reiterated at Cantor Fitzgerald
• Positive Sentiment: One analyst raised its DoorDash (DASH) price target to $340, suggesting substantial potential upside based on expectations for long-term growth and the company’s expanding delivery ecosystem. DoorDash price target raised to $340
• Positive Sentiment: DoorDash’s planned $17 billion acquisition of Instacart could broaden its customer base, services and subscription offering, potentially creating cost and cross-selling synergies. DoorDash acquires Instacart

DoorDash Stock Performance

NASDAQ DASH opened at $178.99 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $77.56 billion, a P/E ratio of 73.96 and a beta of 1.98. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $260.74. The firm has a 50-day moving average price of $197.84 and a 200 day moving average price of $183.11.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.25. DoorDash had a return on equity of 10.58% and a net margin of 6.23%. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. Equities research analysts expect that DoorDash, Inc. will post 2.64 EPS for the current year.

DoorDash Profile

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.