Focus Partners Wealth Buys 6,627 Shares of DoorDash, Inc. $DASH

Focus Partners Wealth lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 251.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,261 shares of the company’s stock after acquiring an additional 6,627 shares during the quarter. Focus Partners Wealth’s holdings in DoorDash were worth $1,693,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in DASH. Saudi Central Bank bought a new stake in shares of DoorDash during the 1st quarter worth about $25,000. WPG Advisers LLC bought a new stake in DoorDash during the 1st quarter valued at approximately $26,000. Pacific Center for Financial Services bought a new stake in DoorDash during the 1st quarter valued at approximately $27,000. Harbour Investments Inc. boosted its stake in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 70 shares during the period. Finally, SouthState Corp boosted its stake in DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after purchasing an additional 183 shares during the period. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total value of $7,299,600.00. The disclosure for this sale can be found here. In the last three months, insiders sold 974,798 shares of company stock worth $238,357,125. 5.83% of the stock is currently owned by company insiders.

DoorDash Trading Up 1.9%

DASH stock opened at $263.09 on Wednesday. The business has a fifty day moving average price of $248.87 and a 200 day moving average price of $216.94. DoorDash, Inc. has a fifty-two week low of $126.90 and a fifty-two week high of $278.15. The stock has a market capitalization of $112.39 billion, a price-to-earnings ratio of 146.16 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period last year, the firm earned ($0.38) EPS. Analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DASH. Truist Financial increased their target price on DoorDash from $272.00 to $326.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Morgan Stanley increased their target price on DoorDash from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Roth Capital increased their target price on DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. JMP Securities increased their target price on DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Finally, UBS Group raised their price objective on DoorDash from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.71.

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.