DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. elevated its stake in DoorDash, Inc. by 86.3%, owning 3,918 shares worth approximately $716,000 as of its latest SEC filing.
• DoorDash's shares recently experienced a price surge, reaching a one-year high of $252.87, with a current market capitalization of $105.24 billion.
• A significant number of insiders sold shares last quarter, totaling 508,127 shares valued at over $115 million, indicating possible concern among company leadership.

Avantax Advisory Services Inc. grew its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 86.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,918 shares of the company's stock after acquiring an additional 1,815 shares during the quarter. Avantax Advisory Services Inc.'s holdings in DoorDash were worth $716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Brookwood Investment Group LLC acquired a new position in shares of DoorDash during the 1st quarter worth approximately $204,000. Opes Wealth Management LLC acquired a new stake in shares of DoorDash during the first quarter worth $1,941,000. SYM FINANCIAL Corp bought a new stake in DoorDash during the first quarter valued at $298,000. Oak Thistle LLC acquired a new stake in shares of DoorDash in the 1st quarter valued at about $569,000. Finally, Proficio Capital Partners LLC lifted its position in DoorDash by 8.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,416 shares of the company's stock valued at $259,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Up 1.1%

DoorDash stock traded up $2.85 during midday trading on Wednesday, hitting $258.13. The company's stock had a trading volume of 5,358,275 shares, compared to its average volume of 2,765,802. DoorDash, Inc. has a 12 month low of $121.18 and a 12 month high of $259.87. The company has a market capitalization of $109.38 billion, a PE ratio of 335.23 and a beta of 1.70. The stock's 50-day moving average price is $232.69 and its 200-day moving average price is $204.86.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. During the same quarter last year, the firm posted ($0.38) EPS. The business's quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the transaction, the chief executive officer owned 520,450 shares of the company's stock, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 583,537 shares of company stock valued at $133,720,004 in the last ninety days. Insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JMP Securities lifted their target price on shares of DoorDash from $235.00 to $250.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th. BTIG Research increased their target price on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Stifel Nicolaus increased their price target on DoorDash from $198.00 to $214.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Wedbush reissued an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Finally, Oppenheimer boosted their target price on DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $235.56.

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.