IFG Advisory LLC Purchases New Position in DoorDash, Inc. $DASH

IFG Advisory LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,579 shares of the company’s stock, valued at approximately $389,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC boosted its stake in DoorDash by 48.1% during the second quarter. Simon Quick Advisors LLC now owns 4,826 shares of the company’s stock valued at $1,190,000 after buying an additional 1,568 shares during the last quarter. AdvisorShares Investments LLC lifted its stake in shares of DoorDash by 9.3% in the 2nd quarter. AdvisorShares Investments LLC now owns 656 shares of the company’s stock valued at $162,000 after purchasing an additional 56 shares during the last quarter. Strs Ohio lifted its stake in shares of DoorDash by 8.3% in the 2nd quarter. Strs Ohio now owns 93,359 shares of the company’s stock valued at $23,014,000 after purchasing an additional 7,176 shares during the last quarter. Amalgamated Bank lifted its stake in shares of DoorDash by 6.4% in the 2nd quarter. Amalgamated Bank now owns 76,723 shares of the company’s stock valued at $18,913,000 after purchasing an additional 4,588 shares during the last quarter. Finally, Atria Investments Inc lifted its stake in shares of DoorDash by 11.9% in the 2nd quarter. Atria Investments Inc now owns 17,940 shares of the company’s stock valued at $4,422,000 after purchasing an additional 1,914 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 34,166 shares of DoorDash stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total value of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at $139,605,508. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Prabir Adarkar sold 24,968 shares of DoorDash stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total value of $6,799,285.76. Following the completion of the sale, the chief operating officer owned 909,579 shares of the company’s stock, valued at $247,696,553.28. The trade was a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 852,704 shares of company stock valued at $213,921,205 over the last three months. 5.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DASH has been the subject of several analyst reports. Mizuho set a $350.00 price objective on DoorDash and gave the company an “outperform” rating in a research note on Monday, September 29th. Truist Financial raised their price objective on DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Loop Capital reaffirmed a “buy” rating on shares of DoorDash in a research note on Tuesday, July 15th. Stifel Nicolaus raised their price objective on DoorDash from $214.00 to $239.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Finally, KeyCorp reissued an “overweight” rating and set a $325.00 price target (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $291.88.

DoorDash Price Performance

Shares of DASH stock opened at $242.05 on Tuesday. DoorDash, Inc. has a 52-week low of $152.57 and a 52-week high of $285.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market capitalization of $103.40 billion, a P/E ratio of 134.47 and a beta of 1.71. The stock has a 50 day moving average price of $260.91 and a 200 day moving average price of $236.88.

DoorDash (NASDAQ:DASH) last issued its 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 return on equity of 9.56% and a net margin of 6.57%.The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company posted ($0.38) EPS. DoorDash’s revenue was up 24.9% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.