Flagship Harbor Advisors LLC Has $431,000 Stock Position in DoorDash, Inc. $DASH

Flagship Harbor Advisors LLC increased its position in DoorDash, Inc. (NASDAQ:DASH) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,748 shares of the company’s stock after purchasing an additional 112 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in DoorDash were worth $431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. Price T Rowe Associates Inc. MD increased its position in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after purchasing an additional 641,601 shares during the period. Invesco Ltd. increased its position in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after purchasing an additional 1,416,194 shares during the period. Northern Trust Corp increased its position in DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock worth $604,829,000 after purchasing an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in DoorDash by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company’s stock worth $576,089,000 after purchasing an additional 842,637 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DASH has been the subject of several analyst reports. Wedbush restated a “neutral” rating on shares of DoorDash in a research report on Friday, August 8th. Needham & Company LLC set a $300.00 target price on DoorDash and gave the stock a “buy” rating in a research report on Thursday, August 7th. Royal Bank Of Canada boosted their target price on DoorDash from $230.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. UBS Group boosted their target price on DoorDash from $280.00 to $316.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, JMP Securities boosted their target price on DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $291.88.

DoorDash Trading Up 0.1%

NASDAQ:DASH opened at $254.37 on Friday. DoorDash, Inc. has a fifty-two week low of $152.26 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $108.67 billion, a PE ratio of 141.32 and a beta of 1.71. The business’s 50-day simple moving average is $260.98 and its 200-day simple moving average is $235.67.

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

Insiders Place Their Bets

In other news, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the sale, the director owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 852,704 shares of company stock worth $213,921,205. Company insiders own 5.83% of the company’s stock.

About DoorDash

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.