DoorDash, Inc. $DASH Shares Acquired by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC increased its stake in DoorDash, Inc. by 12.1%, owning 177,540 shares worth approximately $32.4 million as of the end of the first quarter.
• Recent upgrades from analysts include price target boosts from Morgan Stanley and BMO Capital Markets, with the stock receiving a consensus rating of "Moderate Buy" and an average target price of $263.88.
• DoorDash reported strong quarterly earnings, with an EPS of $0.65 that surpassed expectations and a revenue of $3.28 billion, reflecting a 24.9% year-over-year increase.

Guggenheim Capital LLC increased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,540 shares of the company's stock after purchasing an additional 19,133 shares during the quarter. Guggenheim Capital LLC's holdings in DoorDash were worth $32,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mutual of America Capital Management LLC bought a new stake in DoorDash in the first quarter worth about $7,200,000. Blair William & Co. IL raised its position in DoorDash by 12.8% in the first quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock worth $887,000 after acquiring an additional 551 shares in the last quarter. Brighton Jones LLC raised its position in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in DoorDash by 14.4% in the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after acquiring an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in DoorDash by 70.4% in the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after acquiring an additional 794 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price objective on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Cantor Fitzgerald restated an "overweight" rating and set a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. JMP Securities boosted their price objective on DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Finally, KeyCorp restated an "overweight" rating and set a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the sale, the director owned 26,070 shares of the company's stock, valued at approximately $6,442,157.70. The trade was a 63.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Shona L. Brown sold 1,650 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $272.00, for a total value of $448,800.00. Following the completion of the sale, the director directly owned 41,827 shares of the company's stock, valued at approximately $11,376,944. The trade was a 3.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 890,883 shares of company stock worth $214,419,337. 5.83% of the stock is owned by corporate insiders.

DoorDash Trading Up 1.4%

NASDAQ:DASH opened at $248.79 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a fifty-two week low of $122.32 and a fifty-two week high of $278.15. The stock's 50-day moving average is $243.99 and its two-hundred day moving average is $211.73. The stock has a market cap of $106.28 billion, a PE ratio of 138.22 and a beta of 1.70.

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

DoorDash Company 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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