Allegiance Financial Group Advisory Services LLC Takes $358,000 Position in DoorDash, Inc. (NASDAQ:DASH)

Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,960 shares of the company's stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DASH. ORG Partners LLC raised its holdings in DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after buying an additional 202 shares during the last quarter. Rothschild Investment LLC raised 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 last quarter. Mizuho Securities Co. Ltd. raised 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 last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of DoorDash in the first quarter valued at about $56,000. Finally, Cromwell Holdings LLC purchased a new stake in shares of DoorDash in the first quarter valued at about $58,000. 90.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total value of $7,219,800.00. Following the transaction, the director owned 22,545 shares of the company's stock, valued at $5,425,679.70. This represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 463,198 shares of company stock worth $102,674,831 in the last ninety days. Corporate insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research reports. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Citigroup restated an "outperform" rating on shares of DoorDash in a research report on Thursday, June 12th. Oppenheimer raised 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. Wall Street Zen lowered shares of DoorDash from a "buy" rating to a "hold" rating in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Twelve investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $226.97.

DoorDash Stock Up 1.8%

DASH traded up $4.15 during midday trading on Friday, hitting $239.17. 3,407,442 shares of the company traded hands, compared to its average volume of 4,201,299. The firm has a market capitalization of $101.35 billion, a PE ratio of 310.61 and a beta of 1.70. The company's 50-day moving average is $221.73 and its 200 day moving average is $198.59. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $248.74.

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