Wealth Alliance LLC Purchases New Stake in DoorDash, Inc. $DASH

Wealth Alliance LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,044 shares of the company’s stock, valued at approximately $257,000.

Several other institutional investors also recently made changes to their positions in DASH. Night Squared LP acquired a new stake in shares of DoorDash in the first quarter valued at approximately $2,780,000. Public Investment Fund lifted its stake in 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 buying an additional 333,369 shares in the last quarter. Mutual of America Capital Management LLC acquired a new stake in DoorDash during the 1st quarter valued at $7,200,000. Ardmore Road Asset Management LP increased its position in 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 in the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of DoorDash in the first quarter worth $29,261,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total transaction of $7,299,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 291,403 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 229,047 shares of the company’s stock, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 791,110 shares of company stock valued at $196,549,692. 5.83% of the stock is currently owned by company insiders.

DoorDash Stock Up 6.0%

Shares of NASDAQ DASH opened at $206.96 on Friday. The stock has a market capitalization of $89.20 billion, a PE ratio of 105.06 and a beta of 1.70. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $254.14 and a 200-day moving average of $237.81. DoorDash, Inc. has a 52-week low of $155.40 and a 52-week high of $285.50.

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

Analyst Ratings Changes

A number of research firms recently commented on DASH. Wells Fargo & Company dropped their price objective on DoorDash from $301.00 to $239.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Barclays lowered their price target on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Needham & Company LLC reduced their price objective on shares of DoorDash from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday. JMP Securities lifted their target price on shares of DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald reduced their price target on DoorDash from $330.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $279.00.

DoorDash Company 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.