NewEdge Advisors LLC Grows Stock Position in DoorDash, Inc. $DASH

Key Points

• NewEdge Advisors LLC significantly increased its stake in DoorDash, acquiring 9,252 additional shares for a total of 15,320 shares, valued at approximately $2.8 million.
• DoorDash reported a 24.9% year-over-year increase in quarterly revenue, reaching $3.28 billion, and saw earnings per share of $0.65, which surpassed analyst estimates.
• Insider trading noted two key sales, with the General Counsel selling 2,924 shares valued at $731,000, while CEO Tony Xu sold 17,083 shares totaling over $4.2 million.

NewEdge Advisors LLC raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 152.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,320 shares of the company's stock after buying an additional 9,252 shares during the quarter. NewEdge Advisors LLC's holdings in DoorDash were worth $2,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Brighton Jones LLC lifted its stake in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after buying an additional 1,807 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of DoorDash by 13.3% in the fourth quarter. Captrust Financial Advisors now owns 9,251 shares of the company's stock valued at $1,552,000 after purchasing an additional 1,089 shares during the period. Focus Partners Wealth acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $490,000. Jefferies Financial Group Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $813,000. Finally, Lazard Asset Management LLC increased its holdings in shares of DoorDash by 126.0% in the fourth quarter. Lazard Asset Management LLC now owns 24,395 shares of the company's stock valued at $4,091,000 after purchasing an additional 13,599 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 18,034 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.16, for a total value of $4,385,147.44. Following the sale, the insider directly owned 75,432 shares in the company, valued at $18,342,045.12. This represents a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Tia Sherringham sold 2,924 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $250.00, for a total value of $731,000.00. Following the completion of the sale, the general counsel owned 112,782 shares in the company, valued at $28,195,500. This represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,019,042 shares of company stock valued at $248,122,219. Insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DASH. BTIG Research boosted their target price on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Truist Financial upped their price objective on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Bank of America upped their price objective on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Sanford C. Bernstein upped their price objective on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, DA Davidson upped their price objective on DoorDash from $190.00 to $260.00 and gave the stock a "neutral" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $266.71.

DoorDash Price Performance

DoorDash stock traded down $2.21 during trading hours on Friday, hitting $257.98. The stock had a trading volume of 2,215,886 shares, compared to its average volume of 2,845,738. 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 1-year low of $126.90 and a 1-year high of $278.15. The stock's fifty day moving average is $248.21 and its two-hundred day moving average is $215.94. The stock has a market capitalization of $110.21 billion, a price-to-earnings ratio of 143.32 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the business earned ($0.38) earnings per share. The business's revenue was up 24.9% on a year-over-year basis. As a group, analysts predict that DoorDash, Inc. will post 2.22 earnings per share 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.