Parcion Private Wealth LLC Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Parcion Private Wealth LLC acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,792 shares of the company's stock, valued at approximately $328,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DASH. ORG Partners LLC increased its stake in shares of DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC grew its stake in DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after acquiring an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. grew its stake in DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after acquiring an additional 180 shares in the last quarter. Washington Trust Advisors Inc. purchased a new position in DoorDash during the first quarter valued at $56,000. Finally, Cromwell Holdings LLC purchased a new position in DoorDash during the first quarter valued at $58,000. Institutional investors own 90.64% of the company's stock.

Insider Activity

In other news, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the sale, the chief executive officer owned 520,450 shares in the company, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Prabir Adarkar sold 62,267 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the sale, the chief operating officer directly owned 942,554 shares in the company, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 463,198 shares of company stock valued at $102,674,831. Corporate insiders own 5.83% of the company's stock.

DoorDash Stock Up 1.8%

DASH stock traded up $4.15 during mid-day trading on Friday, hitting $239.17. 3,407,442 shares of the company were exchanged, compared to its average volume of 4,201,299. The firm has a market capitalization of $101.35 billion, a P/E ratio of 310.61 and a beta of 1.70. The business has a fifty day simple moving average of $221.73 and a 200-day simple moving average of $198.59. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The firm's revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. Research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on DASH. Oppenheimer increased their price objective on shares of DoorDash from $220.00 to $280.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. FBN Securities began coverage on shares of DoorDash in a research report on Friday, March 28th. They set an "outperform" rating and a $230.00 price objective for the company. Morgan Stanley lowered their price objective on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. BTIG Research increased their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Finally, Bank of America increased their price objective on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Twelve research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $226.97.

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.