Howard Capital Management Inc. Grows Position in DoorDash, Inc. $DASH

Howard Capital Management Inc. boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 203.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,180 shares of the company’s stock after buying an additional 4,815 shares during the period. Howard Capital Management Inc.’s holdings in DoorDash were worth $1,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GFG Capital LLC bought a new position in DoorDash during the second quarter valued at approximately $30,000. Sound Income Strategies LLC grew its holdings in DoorDash by 2,760.0% during the 3rd quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock valued at $39,000 after purchasing an additional 138 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in DoorDash by 74.3% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 176 shares of the company’s stock worth $48,000 after purchasing an additional 75 shares during the period. Asset Planning Inc bought a new stake in DoorDash in the third quarter worth about $50,000. Finally, NewSquare Capital LLC boosted its position in shares of DoorDash by 610.3% during the second quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $51,000 after buying an additional 177 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DASH shares. Exane BNP Paribas raised DoorDash to a “strong-buy” rating in a research note on Wednesday, January 14th. Argus reduced their target price on DoorDash from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Zacks Research lowered shares of DoorDash from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Truist Financial lifted their price objective on DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Wedbush upped their price target on shares of DoorDash from $260.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $280.29.

Insider Activity

In related news, 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 value of $56,539,896.40. Following the transaction, the chief executive officer directly owned 232,040 shares in the company, valued at approximately $45,489,121.60. This represents a 55.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $205.07, for a total value of $9,312,228.70. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 632,885 shares of company stock worth $133,222,817. Insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $204.62 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The stock has a market capitalization of $88.19 billion, a PE ratio of 103.87 and a beta of 1.70. The company has a fifty day moving average of $217.75 and a two-hundred day moving average of $237.98.

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

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.