2,114 Shares in DoorDash, Inc. $DASH Acquired by Hobart Private Capital LLC

Key Points

• Hobart Private Capital LLC acquired 2,114 shares of DoorDash, Inc. valued at approximately $521,000, marking a new investment during the second quarter.
• Insiders have sold around 968,137 shares of DoorDash stock in the last ninety days, totaling $241.8 million, with COO Prabir Adarkar and Director Stanley Tang significantly reducing their holdings.
• Analysts maintain a consensus rating of "Moderate Buy" for DoorDash, with target prices from $230 to $350, reflecting confidence in the company’s growth potential.

Hobart Private Capital LLC purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,114 shares of the company's stock, valued at approximately $521,000.

A number of other large investors have also bought and sold shares of DASH. Brighton Jones LLC grew its position in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares during the last quarter. GAMMA Investing LLC grew its position in DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after acquiring an additional 794 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in DoorDash by 12.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,817 shares of the company's stock worth $8,008,000 after acquiring an additional 4,827 shares during the last quarter. Ritholtz Wealth Management bought a new position in DoorDash in the 1st quarter valued at $240,000. Finally, Mission Wealth Management LP acquired a new stake in shares of DoorDash in the 1st quarter valued at $212,000. 90.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares of the company's stock, valued at $224,813,943.54. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the sale, the director directly owned 26,070 shares in the company, valued at $6,442,157.70. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 968,137 shares of company stock valued at $241,767,280. Insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Mizuho set a $350.00 target price on DoorDash and gave the company an "outperform" rating in a research note on Monday, September 29th. Royal Bank Of Canada lifted their target price on DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Piper Sandler lifted their target price on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Loop Capital reissued a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Finally, DA Davidson lifted their target price on DoorDash from $190.00 to $260.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $281.29.

DoorDash Stock Performance

DASH stock opened at $272.61 on Thursday. The business's 50-day moving average price is $259.32 and its two-hundred day moving average price is $228.44. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market cap of $116.46 billion, a PE ratio of 151.45 and a beta of 1.71. DoorDash, Inc. has a 1-year low of $147.31 and a 1-year high of $285.08.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) earnings per share. As a group, research analysts forecast 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.

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