Abel Hall LLC Acquires New Stake in DoorDash, Inc. $DASH

Key Points

• Abel Hall LLC acquired 5,714 DoorDash shares worth approximately $1.05 million in the third quarter. Institutional investors collectively own 90.64% of the company, with several firms significantly increasing their positions.
• DoorDash reported quarterly revenue of $4.45 billion, up 35.6% year over year and above estimates, though adjusted earnings of $0.46 per share narrowly missed expectations. The stock traded at $193.53, with a market capitalization of about $83.9 billion.
• Analysts maintain a generally positive view, with DoorDash carrying a “Moderate Buy” consensus rating and an average price target of $254.95. Meanwhile, insiders sold nearly 394,000 shares worth approximately $85.9 million over the past 90 days.

Abel Hall LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,714 shares of the company's stock, valued at approximately $1,049,000.

A number of other institutional investors have also recently made changes to their positions in the business. Clark Wealth Partners raised its position in shares of DoorDash by 833.3% during the 3rd quarter. Clark Wealth Partners now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 175 shares in the last quarter. IFP Advisors Inc increased its stake in DoorDash by 43.8% in the third quarter. IFP Advisors Inc now owns 38,548 shares of the company's stock valued at $7,075,000 after purchasing an additional 11,743 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in DoorDash by 777.7% during the third quarter. Frank Rimerman Advisors LLC now owns 31,027 shares of the company's stock worth $5,695,000 after purchasing an additional 27,492 shares in the last quarter. Alpine Bank Wealth Management raised its holdings in DoorDash by 843.0% during the third quarter. Alpine Bank Wealth Management now owns 1,207 shares of the company's stock worth $222,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of DoorDash by 15,993.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company's stock worth $223,285,000 after buying an additional 1,208,919 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 55,289 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the completion of the sale, the chief operating officer directly owned 930,211 shares of the company's stock, valued at $215,585,701.36. This represents a 5.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,505 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total value of $4,303,193.10. Following the sale, the chief financial officer directly owned 232,938 shares of the company's stock, valued at $51,390,781.56. The trade was a 7.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 393,998 shares of company stock valued at $85,861,330. Insiders own 44.90% of the company's stock.

DoorDash Stock Performance

NASDAQ:DASH traded up $4.38 during trading hours on Monday, reaching $193.53. 2,587,468 shares of the company's stock were exchanged, compared to its average volume of 4,588,868. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $269.00. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $83.86 billion, a price-to-earnings ratio of 101.32 and a beta of 1.90. The company has a 50-day moving average of $204.83 and a 200 day moving average of $184.18.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The company's revenue for the quarter was up 35.6% compared to the same quarter last year. Research analysts anticipate that DoorDash, Inc. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

DASH has been the subject of several research analyst reports. Susquehanna upped their target price on shares of DoorDash from $225.00 to $250.00 and gave the company a "positive" rating in a report on Friday, August 7th. Sanford C. Bernstein reiterated an "outperform" rating on shares of DoorDash in a research note on Thursday, September 3rd. JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $250.00 to $262.00 in a research note on Wednesday, August 5th. The Goldman Sachs Group reduced their price target on shares of DoorDash from $280.00 to $275.00 in a research report on Thursday, August 6th. Finally, TD Cowen upped their price objective on shares of DoorDash from $225.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $254.95.

About DoorDash

DoorDash, Inc NASDAQ: DASH operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.

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