Abacus FCF Advisors LLC Buys 29,314 Shares of DoorDash, Inc. $DASH

Key Points

• Abacus FCF Advisors LLC increased its position in DoorDash, Inc. (NASDAQ:DASH) by 71% in Q2, now holding over 70,000 shares valued at approximately $17.4 million.
• DoorDash reported $0.65 EPS for the last quarter, exceeding estimates, and its revenue rose by 24.9% year-over-year to $3.28 billion.
• Insiders sold over 1 million shares of DoorDash stock worth approximately $251.6 million in the last quarter, with significant sales from both the director and CEO.

Abacus FCF Advisors LLC boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 71.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,573 shares of the company's stock after buying an additional 29,314 shares during the quarter. DoorDash comprises 2.4% of Abacus FCF Advisors LLC's portfolio, making the stock its 13th biggest holding. Abacus FCF Advisors LLC's holdings in DoorDash were worth $17,397,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Saudi Central Bank bought a new stake in shares of DoorDash in the first quarter valued at about $25,000. WPG Advisers LLC bought a new stake in shares of DoorDash in the first quarter valued at about $26,000. Pacific Center for Financial Services bought a new stake in shares of DoorDash in the first quarter valued at about $27,000. Harbour Investments Inc. lifted 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. Finally, SouthState Corp lifted its stake in DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after purchasing an additional 183 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Up 1.5%

DASH traded up $3.82 during trading on Tuesday, hitting $266.57. The company had a trading volume of 1,319,241 shares, compared to its average volume of 4,532,918. 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 one year low of $138.59 and a one year high of $278.15. The firm's 50-day moving average price is $250.63 and its 200 day moving average price is $219.23. The company has a market capitalization of $113.88 billion, a PE ratio of 148.10 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business earned ($0.38) EPS. DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 291,403 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares of the company's stock, valued at $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the sale, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,020,055 shares of company stock valued at $250,222,491. Insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wedbush reissued a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. UBS Group increased their target price on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Truist Financial increased their target price on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Roth Capital increased their target price on DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $268.76.

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.