Newbridge Financial Services Group Inc. Purchases Shares of 1,185 DoorDash, Inc. (NASDAQ:DASH)

Newbridge Financial Services Group Inc. purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,185 shares of the company’s stock, valued at approximately $163,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Baillie Gifford & Co. boosted its stake in DoorDash by 6.4% during the 4th quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after purchasing an additional 772,977 shares during the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 0.6% in the 4th quarter. Capital World Investors now owns 9,395,743 shares of the company’s stock worth $929,145,000 after buying an additional 60,033 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of DoorDash by 45.6% in the 4th quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock worth $304,490,000 after buying an additional 964,860 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of DoorDash in the 4th quarter worth approximately $264,806,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Down 1.0 %

Shares of DASH traded down $1.14 during trading hours on Tuesday, reaching $112.82. 2,705,491 shares of the company’s stock traded hands, compared to its average volume of 3,958,455. The stock has a market cap of $46.13 billion, a PE ratio of -104.46, a price-to-earnings-growth ratio of 39.35 and a beta of 1.78. The firm’s 50 day simple moving average is $128.80 and its 200-day simple moving average is $113.93. DoorDash, Inc. has a 12 month low of $62.83 and a 12 month high of $143.34.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.41) EPS. As a group, analysts expect that DoorDash, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at $50,340,453.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $124.50, for a total value of $435,750.00. Following the transaction, the insider now directly owns 161,102 shares in the company, valued at $20,057,199. The disclosure for this sale can be found here. Insiders sold 415,698 shares of company stock worth $56,026,819 in the last quarter. 9.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Oppenheimer boosted their target price on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Susquehanna boosted their target price on DoorDash from $110.00 to $135.00 and gave the stock a “positive” rating in a research note on Tuesday, February 20th. Piper Sandler upgraded DoorDash from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $127.00 in a research note on Friday, March 15th. Morgan Stanley raised DoorDash from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $135.00 to $145.00 in a research report on Thursday, February 22nd. Finally, Truist Financial dropped their price target on DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $132.28.

About DoorDash

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.