Advisors Asset Management Inc. Grows Stake in DoorDash, Inc. $DASH

Advisors Asset Management Inc. increased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 61.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,921 shares of the company’s stock after acquiring an additional 14,453 shares during the quarter. Advisors Asset Management Inc.’s holdings in DoorDash were worth $9,348,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DASH. Saudi Central Bank purchased a new position in shares of DoorDash in the 1st quarter worth approximately $25,000. WPG Advisers LLC purchased a new stake in DoorDash in the 1st quarter worth approximately $26,000. Pacific Center for Financial Services purchased a new position in DoorDash in the first quarter valued at $27,000. GFG Capital LLC purchased a new position in DoorDash during the second quarter worth approximately $30,000. Finally, Harbour Investments Inc. grew its stake in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DASH shares. Raymond James Financial restated a “strong-buy” rating and set a $325.00 price target (up previously from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Zacks Research cut DoorDash from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Wedbush upgraded shares of DoorDash from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $260.00 in a report on Thursday, November 13th. Morgan Stanley upped their price target on DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Mizuho lowered their price target on DoorDash from $350.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $275.62.

DoorDash Stock Up 3.9%

Shares of NASDAQ DASH opened at $195.49 on Wednesday. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The stock has a market capitalization of $84.26 billion, a price-to-earnings ratio of 99.23 and a beta of 1.70. The firm has a 50-day moving average price of $245.78 and a 200 day moving average price of $238.77. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. DoorDash’s quarterly revenue was up 27.3% on a year-over-year basis. Equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 24,968 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $272.32, for a total value of $6,799,285.76. Following the sale, the chief operating officer directly owned 909,579 shares of the company’s stock, valued at approximately $247,696,553.28. This trade represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 288,410 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the transaction, the chief executive officer directly owned 232,040 shares of the company’s stock, valued at $45,489,121.60. This trade represents a 55.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 732,345 shares of company stock worth $169,950,987 over the last three months. Company insiders own 5.83% of the company’s stock.

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.