Mill Creek Capital Advisors LLC Purchases New Position in DoorDash, Inc. (NASDAQ:DASH)

Mill Creek Capital Advisors LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,654 shares of the company’s stock, valued at approximately $236,000.

Other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. raised its position in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. Capital World Investors raised its position in DoorDash by 0.8% in the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after purchasing an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock valued at $753,281,000 after purchasing an additional 242,956 shares during the last quarter. Janus Henderson Group PLC raised its position in DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares during the last quarter. Finally, Dragoneer Investment Group LLC raised its position in DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the transaction, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at $50,651,994.72. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 324,539 shares of company stock valued at $46,439,330 over the last three months. Company insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BMO Capital Markets lifted their price objective on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Susquehanna lifted their price objective on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. JMP Securities boosted their target price on DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their target price on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

DoorDash Trading Down 2.5 %

NASDAQ:DASH opened at $169.43 on Monday. DoorDash, Inc. has a 1 year low of $92.56 and a 1 year high of $178.16. The stock has a market cap of $70.38 billion, a price-to-earnings ratio of -376.51, a PEG ratio of 14.26 and a beta of 1.67. The stock has a 50-day moving average price of $149.01 and a two-hundred day moving average price of $126.98.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 0.24 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.