City Center Advisors LLC Acquires New Shares in DoorDash, Inc. $DASH

Key Points

• City Center Advisors LLC invested approximately $440,000 in DoorDash, purchasing 1,783 shares during the second quarter.
• Insiders sold a total of 1,019,042 shares of DoorDash stock worth $248.1 million over the last 90 days, with directors Andy Fang and Stanley Tang making significant transactions.
• DoorDash reported a 24.9% year-over-year revenue increase in its last earnings report, with a quarterly revenue of $3.28 billion and an EPS of $0.65, surpassing analysts' expectations.

City Center 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 (SEC). The institutional investor purchased 1,783 shares of the company's stock, valued at approximately $440,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Saudi Central Bank bought a new position in shares of DoorDash in the 1st quarter worth $25,000. WPG Advisers LLC acquired a new position in DoorDash during the first quarter worth $26,000. Pacific Center for Financial Services bought a new position in shares of DoorDash in the first quarter valued at $27,000. Harbour Investments Inc. grew its holdings in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after buying an additional 70 shares during the last quarter. Finally, SouthState Corp increased its position in shares of DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

NASDAQ DASH traded up $0.11 during trading hours on Monday, reaching $258.09. 2,592,387 shares of the company were exchanged, compared to its average volume of 2,802,284. The stock has a market capitalization of $110.26 billion, a P/E ratio of 143.38 and a beta of 1.70. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 1 year low of $126.90 and a 1 year high of $278.15. The business's 50 day simple moving average is $248.44 and its 200-day simple moving average is $216.61.

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

Analyst Upgrades and Downgrades

DASH has been the topic of several recent research reports. Evercore ISI reaffirmed an "outperform" rating and issued a $360.00 price target (up previously from $240.00) on shares of DoorDash in a research report on Friday, August 8th. BTIG Research raised their target price on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Stifel Nicolaus upped their price target on DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price target on DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Bank of America lifted their price objective on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $266.71.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares in the company, valued at approximately $224,813,943.54. This represents a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 974,798 shares of company stock valued at $238,357,125 in the last three months. 5.83% of the stock is currently owned by company insiders.

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.