United Asset Strategies Inc. Reduces Position in DoorDash, Inc. $DASH

United Asset Strategies Inc. decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,603 shares of the company’s stock after selling 1,183 shares during the quarter. United Asset Strategies Inc.’s holdings in DoorDash were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DASH. Night Squared LP acquired a new stake in DoorDash in the 1st quarter valued at about $2,780,000. Mutual of America Capital Management LLC purchased a new stake in DoorDash in the first quarter valued at approximately $7,200,000. Public Investment Fund boosted its stake in DoorDash by 68.3% during the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after purchasing an additional 333,369 shares during the period. Ardmore Road Asset Management LP grew its holdings in shares of DoorDash by 6.7% during the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after buying an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of DoorDash in the first quarter valued at approximately $29,261,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DASH. Wall Street Zen downgraded shares of DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Oppenheimer reissued an “outperform” rating and set a $280.00 price objective on shares of DoorDash in a research note on Thursday, November 6th. Loop Capital reaffirmed a “buy” rating on shares of DoorDash in a research note on Tuesday, July 15th. KeyCorp reissued an “overweight” rating and issued a $325.00 price target (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Wedbush cut their target price on DoorDash from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $280.62.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $263.86, for a total transaction of $376,000.50. Following the transaction, the chief financial officer directly owned 214,147 shares of the company’s stock, valued at approximately $56,504,827.42. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $277.47, for a total value of $346,837.50. Following the completion of the transaction, the director directly owned 37,252 shares in the company, valued at approximately $10,336,312.44. The trade was a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 825,277 shares of company stock worth $205,015,591. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $200.63 on Wednesday. The firm has a market capitalization of $85.71 billion, a P/E ratio of 101.84 and a beta of 1.70. The firm’s 50 day moving average is $257.06 and its two-hundred day moving average is $238.27. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.