DoorDash, Inc. $DASH Shares Acquired by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC increased its holdings in DoorDash, Inc. by 47% during the 2nd quarter, owning 4,027 shares valued at approximately $969,000.
• COO Prabir Adarkar sold 24,968 shares of DoorDash stock recently, resulting in a 2.67% decrease in his ownership, with total insider sales amounting to $248.5 million over the last 90 days.
• DoorDash's stock currently holds a Moderate Buy rating from analysts, with an average price target of $285.26 despite a recent decrease in share value.

Chicago Partners Investment Group LLC grew its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 47.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,027 shares of the company's stock after acquiring an additional 1,288 shares during the period. Chicago Partners Investment Group LLC's holdings in DoorDash were worth $969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DASH. Saudi Central Bank purchased a new stake in DoorDash in the first quarter valued at $25,000. WPG Advisers LLC acquired a new position in shares of DoorDash in the 1st quarter valued at about $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash in the first quarter worth about $27,000. GFG Capital LLC purchased a new stake in shares of DoorDash in the second quarter worth about $30,000. Finally, Harbour Investments Inc. raised its position in 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 acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 24,968 shares of the company's stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the completion of the sale, the chief operating officer owned 909,579 shares of the company's stock, valued at $247,696,553.28. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shona L. Brown sold 1,250 shares of the company's stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the sale, the director directly owned 37,252 shares of the company's stock, valued at approximately $10,336,312.44. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 993,105 shares of company stock worth $248,566,566 over the last 90 days. Corporate insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

DASH has been the topic of several recent research reports. BTIG Research restated a "buy" rating and issued a $315.00 price objective on shares of DoorDash in a research report on Monday. Wells Fargo & Company lowered their price target on shares of DoorDash from $306.00 to $301.00 and set an "equal weight" rating on the stock in a report on Friday, October 3rd. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Piper Sandler increased their target price on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, JMP Securities lifted their price target on DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $285.26.

DoorDash Stock Down 1.3%

DASH stock opened at $261.97 on Wednesday. DoorDash, Inc. has a 52 week low of $150.26 and a 52 week high of $285.50. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $259.45 and a 200-day simple moving average of $231.17. The stock has a market capitalization of $111.91 billion, a P/E ratio of 145.54 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly 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 analyst estimates of $3.16 billion. During the same period last year, the company posted ($0.38) EPS. DoorDash's quarterly revenue was up 24.9% compared to the same quarter last year. Equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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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