Belpointe Asset Management LLC Makes New Investment in DoorDash, Inc. $DASH

Belpointe Asset Management LLC bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,273 shares of the company's stock, valued at approximately $1,053,000.

Other hedge funds also recently made changes to their positions in the company. Night Squared LP acquired a new position in shares of DoorDash in the 1st quarter worth approximately $2,780,000. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash in the 1st quarter worth approximately $7,200,000. Public Investment Fund grew its position in shares of DoorDash by 68.3% in the 1st quarter. Public Investment Fund now owns 821,389 shares of the company's stock worth $150,125,000 after acquiring an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP grew its position in shares of DoorDash by 6.7% in the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock worth $14,622,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of DoorDash in the 1st quarter worth approximately $29,261,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction on 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction 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 completion of the sale, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,000,229 shares of company stock worth $249,280,188. Insiders own 5.83% of the company's stock.

DoorDash Trading Down 1.8%

Shares of DASH stock opened at $276.78 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 1 year low of $141.26 and a 1 year high of $285.08. The stock has a fifty day moving average of $256.89 and a two-hundred day moving average of $225.36. The firm has a market capitalization of $118.24 billion, a PE ratio of 153.77 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) 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 company 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 posted ($0.38) EPS. The firm's quarterly revenue was up 24.9% on a year-over-year basis. As a group, research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna lifted their target price on DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a research report on Monday, August 11th. Cantor Fitzgerald restated an "overweight" rating and set a $330.00 price objective on shares of DoorDash in a research report on Wednesday, September 17th. Piper Sandler boosted their price objective on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price objective on DoorDash from $238.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein boosted their price objective on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $275.27.

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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