Comerica Bank Acquires 13,211 Shares of DoorDash, Inc. (NASDAQ:DASH)

Comerica Bank boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 249.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,509 shares of the company’s stock after purchasing an additional 13,211 shares during the period. Comerica Bank’s holdings in DoorDash were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DASH. Luxor Capital Group LP acquired a new position in shares of DoorDash during the 4th quarter worth approximately $28,440,000. Bridgewater Associates LP raised its position in DoorDash by 14.0% during the fourth quarter. Bridgewater Associates LP now owns 567,818 shares of the company’s stock worth $56,152,000 after acquiring an additional 69,794 shares in the last quarter. Crosslink Capital Inc. lifted its stake in DoorDash by 29.3% in the fourth quarter. Crosslink Capital Inc. now owns 410,050 shares of the company’s stock valued at $40,550,000 after acquiring an additional 92,890 shares during the last quarter. Future Fund LLC acquired a new stake in DoorDash in the fourth quarter valued at $252,000. Finally, Elo Mutual Pension Insurance Co grew its position in shares of DoorDash by 5.7% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 22,358 shares of the company’s stock valued at $2,212,000 after acquiring an additional 1,213 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the sale, the chief accounting officer now directly owns 92,207 shares in the company, valued at $11,479,771.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of DoorDash stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the transaction, the chief accounting officer now owns 92,207 shares in the company, valued at $11,479,771.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 415,698 shares of company stock valued at $56,026,819 over the last three months. 7.92% of the stock is owned by insiders.

DoorDash Stock Performance

Shares of NASDAQ DASH traded up $2.44 during mid-day trading on Friday, reaching $112.83. The company had a trading volume of 2,850,002 shares, compared to its average volume of 5,208,427. DoorDash, Inc. has a one year low of $62.83 and a one year high of $143.34. The firm has a market cap of $46.14 billion, a price-to-earnings ratio of -104.47, a PEG ratio of 28.13 and a beta of 1.78. The business’s 50-day simple moving average is $127.59 and its 200 day simple moving average is $114.23.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the prior year, the business posted ($0.41) earnings per share. DoorDash’s revenue was up 23.5% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash, Inc. will post 0.11 EPS for the current year.

Wall Street Analyst Weigh In

DASH has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Mizuho raised their price objective on DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Truist Financial decreased their target price on DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Citigroup raised their price target on DoorDash from $141.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Moffett Nathanson upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and upped their price objective for the company from $118.00 to $164.00 in a report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.