Cwm LLC Purchases 14,087 Shares of DoorDash, Inc. $DASH

Key Points

• Cwm LLC increased its stake in DoorDash, Inc. by 34.8%, acquiring 14,087 shares during the 2nd quarter, bringing its total holdings to 54,522 shares worth about $13.44 million.
• DoorDash reported a quarterly revenue of $3.28 billion and earnings per share of $0.65, exceeding analysts' estimates, with a 24.9% year-over-year growth in revenue.
• Analysts have increased their price targets for DoorDash, with Oppenheimer raising it from $280 to $310, and Truist Financial from $272 to $326, indicating a generally positive outlook for the company's stock.

Cwm LLC raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 34.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,522 shares of the company's stock after purchasing an additional 14,087 shares during the quarter. Cwm LLC's holdings in DoorDash were worth $13,440,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Saudi Central Bank bought a new position in DoorDash in the first quarter valued at about $25,000. WPG Advisers LLC bought a new position in DoorDash in the first quarter valued at about $26,000. Pacific Center for Financial Services bought a new position in DoorDash in the first quarter valued at about $27,000. GFG Capital LLC acquired a new stake in shares of DoorDash in the second quarter valued at about $30,000. Finally, Harbour Investments Inc. increased its stake in shares of DoorDash by 55.6% in 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 period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Up 2.8%

Shares of DASH stock opened at $273.52 on Tuesday. The company has a market cap of $116.85 billion, a P/E ratio of 151.96 and a beta of 1.71. The stock has a 50 day simple moving average of $258.72 and a two-hundred day simple moving average of $227.83. 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 fifty-two week low of $143.37 and a fifty-two week high of $285.08.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) earnings per share. Research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.20, for a total value of $8,046,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 34,166 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 of the company's stock, valued at $139,605,508. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 966,887 shares of company stock valued at $241,420,442 in the last 90 days. Company insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DASH. Oppenheimer increased their price target on DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Stifel Nicolaus increased their price target on DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Truist Financial increased their price target on DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. DA Davidson increased their price target on DoorDash from $190.00 to $260.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Finally, Citigroup reissued an "outperform" rating on shares of DoorDash in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $275.27.

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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