Ritholtz Wealth Management Takes $240,000 Position in DoorDash, Inc. (NASDAQ:DASH)

Ritholtz Wealth Management purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,314 shares of the company’s stock, valued at approximately $240,000.

A number of other large investors have also made changes to their positions in DASH. Denver PWM LLC purchased a new position in DoorDash in the fourth quarter worth approximately $30,000. IFP Advisors Inc grew its position in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after acquiring an additional 54 shares during the period. Rothschild Investment LLC grew its position in DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company’s stock worth $48,000 after acquiring an additional 247 shares during the period. Larson Financial Group LLC grew its position in DoorDash by 695.6% in the fourth quarter. Larson Financial Group LLC now owns 358 shares of the company’s stock worth $60,000 after acquiring an additional 313 shares during the period. Finally, Summit Securities Group LLC purchased a new position in DoorDash in the fourth quarter worth approximately $63,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

Shares of DASH stock opened at $220.46 on Friday. The stock’s 50-day moving average is $200.53 and its two-hundred day moving average is $189.25. The firm has a market cap of $93.42 billion, a price-to-earnings ratio of 286.32 and a beta of 1.67. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $223.81.

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

Insiders Place Their Bets

In related news, CEO Tony Xu sold 44,244 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the transaction, the chief executive officer now owns 520,450 shares of the company’s stock, valued at $114,868,519.50. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the transaction, the director now directly owns 22,545 shares in the company, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 342,274 shares of company stock valued at $69,198,499. 5.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DASH has been the subject of several analyst reports. Bank of America increased their price objective on DoorDash from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Citigroup reiterated an “outperform” rating on shares of DoorDash in a research report on Thursday, June 12th. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a research report on Monday, March 10th. FBN Securities initiated coverage on DoorDash in a research report on Friday, March 28th. They issued an “outperform” rating and a $230.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $210.00 price target on shares of DoorDash in a research report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.21.

DoorDash Company 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.