Algert Global LLC Has $5.53 Million Stock Position in DoorDash, Inc. $DASH

Key Points

• Algert Global LLC reduced its stake in DoorDash by 9.2%, selling 3,078 shares, bringing its total holdings to 30,264 shares valued at approximately $5.53 million.
• DoorDash's shares are currently trading at $253.34, with a market cap of $108.23 billion and a notable twelve-month price range of $122.32 to $278.15.
• Recent insider sales indicate significant transactions, with Director Stanley Tang and Director Andy Fang selling 45,410 and 50,000 shares respectively, resulting in large decreases in their ownership percentages.

Algert Global LLC decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,264 shares of the company's stock after selling 3,078 shares during the quarter. Algert Global LLC's holdings in DoorDash were worth $5,531,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. increased its holdings in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares during the period. SouthState Corp increased its holdings in shares of DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after purchasing an additional 183 shares during the period. ORG Partners LLC increased its holdings in shares of DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares during the period. Rothschild Investment LLC increased its holdings in shares of DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares during the period. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of DoorDash by 150.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analysts Set New Price Targets

DASH has been the topic of a number of recent analyst reports. Zacks Research raised DoorDash to a "hold" rating in a report on Tuesday, August 12th. Needham & Company LLC set a $300.00 price objective on DoorDash and gave the company a "buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company upped their price objective on DoorDash from $239.00 to $280.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Jefferies Financial Group upped their price objective on DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $325.00 target price (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Stock Up 0.9%

Shares of DASH stock traded up $2.14 during trading hours on Friday, reaching $247.32. The company had a trading volume of 2,811,511 shares, compared to its average volume of 4,720,868. DoorDash, Inc. has a twelve month low of $122.32 and a twelve month high of $278.15. The stock's fifty day simple moving average is $242.36 and its 200 day simple moving average is $210.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $105.66 billion, a P/E ratio of 137.40 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned ($0.38) EPS. DoorDash's quarterly revenue was up 24.9% on a year-over-year basis. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the sale, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares in the company, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 905,179 shares of company stock valued at $217,357,737 in the last quarter. Insiders own 5.83% of the company's stock.

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.