Cwm LLC Increases Position in DoorDash, Inc. (NASDAQ:DASH)

CWM LLC boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 190.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,435 shares of the company's stock after purchasing an additional 26,520 shares during the quarter. CWM LLC's holdings in DoorDash were worth $7,390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DASH. Brighton Jones LLC boosted its position in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares during the period. Flagship Harbor Advisors LLC increased its position in DoorDash by 14.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after acquiring an additional 206 shares during the period. GAMMA Investing LLC increased its position in DoorDash by 70.4% in the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after acquiring an additional 794 shares during the period. Commonwealth Equity Services LLC increased its position in DoorDash by 43.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,026 shares of the company's stock valued at $1,682,000 after acquiring an additional 3,013 shares during the period. Finally, Park Avenue Securities LLC increased its position in DoorDash by 9.3% in the 1st quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock valued at $1,831,000 after acquiring an additional 850 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Ratings Changes

DASH has been the topic of several recent analyst reports. Bank of America boosted their target price on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Oppenheimer increased their price target on DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Wells Fargo & Company lifted their price target on DoorDash from $198.00 to $239.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Roth Capital lifted their target price on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday. Finally, DA Davidson boosted their price objective on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and an average target price of $226.97.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were 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 owned 22,545 shares in the company, valued at approximately $5,425,679.70. This trade represents a 57.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 20,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $247.00, for a total transaction of $4,940,000.00. Following the completion of the sale, the chief financial officer directly owned 245,530 shares in the company, valued at $60,645,910. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 463,198 shares of company stock worth $102,674,831 in the last ninety days. Insiders own 5.83% of the company's stock.

DoorDash Trading Up 1.3%

NASDAQ DASH traded up $3.01 during trading on Friday, reaching $238.03. The company's stock had a trading volume of 1,165,183 shares, compared to its average volume of 4,207,143. The firm has a market capitalization of $100.86 billion, a price-to-earnings ratio of 309.21 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $248.74. The firm has a 50 day moving average price of $220.61 and a 200 day moving average price of $197.89.

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

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.