DoorDash, Inc. $DASH Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 688.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 410 shares of the company’s stock after purchasing an additional 358 shares during the period. Cullen Frost Bankers Inc.’s holdings in DoorDash were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jackson Thornton Wealth Management LLC acquired a new position in shares of DoorDash in the second quarter worth about $287,000. Pittenger & Anderson Inc. raised its position in shares of DoorDash by 1,728.6% in the second quarter. Pittenger & Anderson Inc. now owns 3,200 shares of the company’s stock worth $789,000 after acquiring an additional 3,025 shares during the period. Phoenix Financial Ltd. acquired a new position in shares of DoorDash in the second quarter worth about $554,000. Avidian Wealth Enterprises LLC raised its position in shares of DoorDash by 13.3% in the second quarter. Avidian Wealth Enterprises LLC now owns 2,169 shares of the company’s stock worth $535,000 after acquiring an additional 255 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of DoorDash by 0.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 43,845 shares of the company’s stock worth $10,695,000 after acquiring an additional 205 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of DoorDash from $306.00 to $301.00 and set an “equal weight” rating for the company in a research report on Friday, October 3rd. Jefferies Financial Group upped their price objective on shares of DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. Barclays assumed coverage on shares of DoorDash in a research report on Friday. They issued an “equal weight” rating and a $272.00 price objective for the company. Raymond James Financial reissued a “strong-buy” rating and set a $325.00 target price (up previously from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $330.00 target price on shares of DoorDash in a research note on Wednesday, September 17th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $287.79.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the sale, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the sale, the director owned 26,070 shares in the company, valued at approximately $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 932,156 shares of company stock valued at $233,565,302. 5.83% of the stock is owned by insiders.

DoorDash Stock Up 1.4%

Shares of NASDAQ DASH opened at $258.15 on Friday. DoorDash, Inc. has a 12-month low of $152.26 and a 12-month high of $285.50. The stock has a market cap of $110.28 billion, a PE ratio of 143.42 and a beta of 1.71. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $259.75 and a 200 day moving average of $233.03.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company earned ($0.38) EPS. DoorDash’s revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal 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.