Concurrent Investment Advisors LLC Invests $251,000 in DoorDash, Inc. (NASDAQ:DASH)

Concurrent Investment Advisors LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,373 shares of the company's stock, valued at approximately $251,000.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of DoorDash by 45.2% in the first quarter. Bank of New York Mellon Corp now owns 2,112,527 shares of the company's stock valued at $386,106,000 after buying an additional 657,980 shares in the last quarter. World Investment Advisors acquired a new stake in shares of DoorDash in the first quarter valued at about $1,125,000. Impax Asset Management Group plc acquired a new stake in shares of DoorDash in the first quarter valued at about $1,625,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of DoorDash by 488.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,411 shares of the company's stock valued at $441,000 after buying an additional 2,001 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its stake in shares of DoorDash by 7.7% in the first quarter. IFM Investors Pty Ltd now owns 60,795 shares of the company's stock valued at $11,112,000 after buying an additional 4,341 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction on 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 sale, the director owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. The trade was a 63.53% 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 30,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total value of $7,219,800.00. Following the completion of the sale, the director directly owned 22,545 shares in the company, valued at $5,425,679.70. This represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 429,031 shares of company stock worth $94,584,086 over the last ninety days. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

Shares of DoorDash stock opened at $240.44 on Friday. The business's fifty day moving average price is $216.76 and its two-hundred day moving average price is $196.21. The company has a market capitalization of $101.88 billion, a P/E ratio of 312.26 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $248.74.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. On average, research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of recent research reports. Roth Capital set a $191.00 target price on DoorDash and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada restated an "outperform" rating and set a $230.00 price objective on shares of DoorDash in a report on Wednesday, May 7th. Morgan Stanley dropped their price objective on DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, DA Davidson lifted their price objective on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $220.53.

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.

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