Franklin Street Advisors Inc. NC Has $36.60 Million Stake in DoorDash, Inc. $DASH

Franklin Street Advisors Inc. NC raised its position in DoorDash, Inc. (NASDAQ:DASH) by 7.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 148,468 shares of the company’s stock after purchasing an additional 9,747 shares during the period. DoorDash accounts for approximately 2.3% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 11th largest position. Franklin Street Advisors Inc. NC’s holdings in DoorDash were worth $36,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Night Squared LP acquired a new position in shares of DoorDash in the 1st quarter worth approximately $2,780,000. Mutual of America Capital Management LLC bought a new stake in shares of DoorDash in the 1st quarter valued at $7,200,000. Public Investment Fund increased its stake in shares of DoorDash by 68.3% in the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock valued at $150,125,000 after acquiring an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP increased its stake in shares of DoorDash by 6.7% in the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock valued at $14,622,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of DoorDash in the 1st quarter valued at $29,261,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

NASDAQ DASH opened at $271.22 on Friday. The company has a fifty day moving average price of $255.52 and a 200-day moving average price of $223.92. The firm has a market cap of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 1 year low of $141.26 and a 1 year high of $278.15.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.16 billion. During the same period last year, the firm earned ($0.38) earnings per share. The firm’s revenue was up 24.9% on a year-over-year basis. As a group, equities research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of DoorDash from $306.00 to $301.00 and set an “equal weight” rating for the company in a research note on Friday. Truist Financial lifted their price objective on shares of DoorDash from $272.00 to $326.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. JMP Securities lifted their price objective on shares of DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their price objective on shares of DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.27.

Insider Activity

In related news, COO Prabir Adarkar sold 41,881 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,001,417 shares of company stock valued at $249,569,754 over the last ninety days. 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.