Apollon Wealth Management LLC Buys 2,281 Shares of DoorDash, Inc. $DASH

Key Points

• Apollon Wealth Management LLC increased its stake in DoorDash by 65.7%, acquiring an additional 2,281 shares and bringing its total holdings to 5,753 shares valued at approximately $1.4 million.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have also increased their stakes in DoorDash, indicating strong institutional interest in the stock.
• DoorDash's stock currently has an average rating of "Moderate Buy" with a consensus price target of $275.27, reflecting optimism for the company's future performance.

Apollon Wealth Management LLC boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 65.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,753 shares of the company's stock after acquiring an additional 2,281 shares during the period. Apollon Wealth Management LLC's holdings in DoorDash were worth $1,418,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after acquiring an additional 641,601 shares in the last quarter. Invesco Ltd. boosted its holdings in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Northern Trust Corp lifted its position in DoorDash by 38.2% during the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after buying an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in DoorDash by 36.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after buying an additional 842,637 shares during the period. Institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on DASH shares. Royal Bank Of Canada raised their price objective on DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Truist Financial raised their price objective on DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. KeyCorp reissued an "overweight" rating and set a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Wells Fargo & Company lowered their price objective on DoorDash from $306.00 to $301.00 and set an "equal weight" rating for the company in a research report on Friday, October 3rd. Finally, Susquehanna raised their price objective on DoorDash from $235.00 to $300.00 and gave the company a "positive" rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $275.27.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares of the company's stock, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the business's 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 completion of the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 966,887 shares of company stock worth $241,420,442 in the last 90 days. Corporate insiders own 5.83% of the company's stock.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $273.52 on Tuesday. DoorDash, Inc. has a fifty-two week low of $143.37 and a fifty-two week high of $285.08. The business has a 50-day simple moving average of $258.72 and a two-hundred day simple moving average of $227.83. 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 firm has a market cap of $116.85 billion, a price-to-earnings ratio of 151.96 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm earned ($0.38) EPS. DoorDash's revenue was up 24.9% on a year-over-year basis. On average, analysts expect 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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