Diversify Wealth Management LLC Has $2.21 Million Stock Holdings in DoorDash, Inc. $DASH

Diversify Wealth Management LLC raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 38.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,718 shares of the company’s stock after acquiring an additional 4,115 shares during the period. Diversify Wealth Management LLC’s holdings in DoorDash were worth $2,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eastern Bank grew its position in DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. MV Capital Management Inc. acquired a new stake in DoorDash during the 4th quarter valued at approximately $26,000. Swiss RE Ltd. acquired a new stake in shares of DoorDash during the fourth quarter worth $28,000. ST Germain D J Co. Inc. acquired a new stake in DoorDash during the 4th quarter worth about $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in DoorDash in the fourth quarter worth approximately $32,000. Institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DASH shares. UBS Group boosted their target price on shares of DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price target on shares of DoorDash in a research report on Thursday, May 7th. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Wells Fargo & Company lowered their target price on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. Finally, Guggenheim restated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $256.08.

Insider Activity

In other news, Director Shona L. Brown sold 582 shares of DoorDash stock in a transaction on Friday, June 26th. The shares were sold at an average price of $177.06, for a total transaction of $103,048.92. Following the completion of the sale, the director directly owned 31,156 shares of the company’s stock, valued at approximately $5,516,481.36. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 84,927 shares of company stock worth $15,124,932. Corporate insiders own 5.83% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $189.57 on Tuesday. The firm has a 50 day moving average of $168.18 and a 200-day moving average of $178.57. The firm has a market capitalization of $82.60 billion, a P/E ratio of 90.27 and a beta of 1.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

DoorDash 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.