Avidian Wealth Enterprises LLC Grows Holdings in DoorDash, Inc. $DASH

Avidian Wealth Enterprises LLC boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,169 shares of the company’s stock after purchasing an additional 255 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in DoorDash were worth $535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DASH. Vanguard Group Inc. raised its position in DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC raised its position in DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares during the last quarter. Invesco Ltd. raised its position in DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the last quarter. Nuveen LLC purchased a new stake in DoorDash in the 1st quarter valued at $211,415,000. Finally, Deutsche Bank AG raised its position in DoorDash by 111.3% in the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock valued at $367,313,000 after purchasing an additional 1,058,731 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 34,166 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the sale, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at $139,605,508. This trade represents a 6.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $263.86, for a total transaction of $376,000.50. Following the sale, the chief financial officer directly owned 214,147 shares in the company, valued at $56,504,827.42. This represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 964,530 shares of company stock worth $241,651,966 over the last three months. Company insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the topic of several recent research reports. BMO Capital Markets boosted their price objective on shares of DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. UBS Group boosted their price objective on shares of DoorDash from $260.00 to $280.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Susquehanna boosted their price objective on shares of DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a research note on Monday, August 11th. Citigroup reissued an “outperform” rating on shares of DoorDash in a research note on Thursday, August 7th. Finally, Wedbush reissued a “neutral” rating on shares of DoorDash in a research note on Friday, August 8th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $285.26.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $252.31 on Thursday. The stock has a market cap of $107.79 billion, a price-to-earnings ratio of 140.17 and a beta of 1.71. DoorDash, Inc. has a 52 week low of $150.26 and a 52 week high of $285.50. The company’s 50-day moving average price is $259.41 and its 200 day moving average price is $231.32. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company earned ($0.38) EPS. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. 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, 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.