Bridges Investment Management Inc. Invests $271,000 in DoorDash, Inc. $DASH

Key Points

• Bridges Investment Management Inc. invested approximately $271,000 to acquire 1,098 shares of DoorDash, highlighting notable institutional interest in the company.
• CEO Tony Xu and Director Andy Fang sold a total of 64,166 shares of DoorDash stock, with significant amounts exceeding $9 million each, indicating potential insider sentiment shifts.
• Recent analyst ratings for DoorDash have been positive, with multiple firms raising their price targets, including JPMorgan Chase upgrading to an "overweight" rating with a target of $325.00.

Bridges Investment Management Inc. acquired a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,098 shares of the company's stock, valued at approximately $271,000.

Other large investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC increased its stake in DoorDash by 1.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock valued at $912,000 after buying an additional 46 shares during the last quarter. Yeomans Consulting Group Inc. increased its position in shares of DoorDash by 3.9% in the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company's stock valued at $326,000 after acquiring an additional 51 shares during the last quarter. Palo Alto Wealth Advisors LLC raised its holdings in DoorDash by 0.4% during the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock worth $2,385,000 after acquiring an additional 54 shares in the last quarter. LVW Advisors LLC raised its holdings in DoorDash by 4.5% during the second quarter. LVW Advisors LLC now owns 1,563 shares of the company's stock worth $385,000 after acquiring an additional 68 shares in the last quarter. Finally, SageView Advisory Group LLC boosted its position in DoorDash by 5.1% during the first quarter. SageView Advisory Group LLC now owns 1,435 shares of the company's stock valued at $262,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 34,166 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total value of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at $139,605,508. The trade was a 6.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 30,000 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.20, for a total value of $8,046,000.00. The disclosure for this sale can be found here. Insiders sold a total of 993,105 shares of company stock worth $248,566,566 in the last 90 days. Company insiders own 5.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. KeyCorp reaffirmed an "overweight" rating and set a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Evercore ISI restated an "outperform" rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a report on Friday, August 8th. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. DA Davidson boosted their price objective on shares of DoorDash from $190.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Finally, JPMorgan Chase & Co. raised shares of DoorDash from a "neutral" rating to an "overweight" rating and upped their target price for the company from $175.00 to $325.00 in a report on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $282.91.

DoorDash Stock Performance

Shares of DASH stock opened at $263.06 on Friday. The company has a market capitalization of $112.38 billion, a price-to-earnings ratio of 146.15 and a beta of 1.71. 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 company has a 50-day simple moving average of $259.31 and a 200 day simple moving average of $229.57. DoorDash, Inc. has a 52 week low of $150.26 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $3.16 billion. During the same period in the prior year, the firm earned ($0.38) EPS. The business's revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

DoorDash Company 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.

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