Beaumont Financial Advisors LLC Makes New $274,000 Investment in DoorDash, Inc. $DASH

Key Points

• Beaumont Financial Advisors LLC made a new investment in DoorDash, Inc. worth approximately $274,000 by purchasing 1,111 shares during the second quarter.
• Several hedge funds modified their positions in DoorDash, with institutional investors currently owning 90.64% of the company's stock.
• DoorDash reported a 24.9% year-over-year increase in revenue for the last quarter, achieving a net margin of 6.57% and an earnings per share of $0.65, surpassing expectations.

Beaumont Financial Advisors LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,111 shares of the company's stock, valued at approximately $274,000.

Several other hedge funds have also recently made changes to their positions in DASH. Saudi Central Bank purchased a new stake in shares of DoorDash during the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new stake in shares of DoorDash during the 1st quarter valued at about $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash during the 1st quarter valued at about $27,000. Harbour Investments Inc. raised its position in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after buying an additional 70 shares in the last quarter. Finally, SouthState Corp raised its position in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after buying an additional 183 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director owned 26,070 shares of the company's stock, valued at $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the sale, the director directly owned 22,545 shares of the company's stock, valued at $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 991,480 shares of company stock valued at $243,387,669 in the last ninety days. Company insiders own 5.83% of the company's stock.

DoorDash Price Performance

NASDAQ DASH opened at $262.47 on Friday. 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's 50 day moving average price is $252.74 and its 200-day moving average price is $221.19. DoorDash, Inc. has a 52-week low of $140.53 and a 52-week high of $278.15. The company has a market cap of $112.13 billion, a PE ratio of 145.82 and a beta of 1.70.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DASH shares. JMP Securities upped their target price on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Benchmark upped their price target on shares of DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wells Fargo & Company upped their price target on shares of DoorDash from $280.00 to $306.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Morgan Stanley upped their price target on shares of DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group upped their price target on shares of DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $271.55.

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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