DoorDash, Inc. $DASH Shares Bought by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC increased its holdings in DoorDash by 74.9% during the second quarter, owning $592,000 worth of shares after acquiring an additional 1,028 shares.
• DoorDash's share price target was raised by multiple analysts, with Benchmark and JMP Securities setting targets of $315.00 and $335.00, respectively, indicating strong investor confidence.
• Insiders sold a significant number of shares recently, with Director Stanley Tang and Director Andy Fang selling over $25 million worth of their stock combined, reflecting a notable decrease in their positions.

Concurrent Investment Advisors LLC increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 74.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,401 shares of the company's stock after acquiring an additional 1,028 shares during the period. Concurrent Investment Advisors LLC's holdings in DoorDash were worth $592,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Perigon Wealth Management LLC grew its position in shares of DoorDash by 1.3% during the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock valued at $912,000 after acquiring an additional 46 shares during the period. Yeomans Consulting Group Inc. grew its position in shares of DoorDash by 3.9% during the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company's stock valued at $326,000 after acquiring an additional 51 shares during the period. Palo Alto Wealth Advisors LLC grew its position in shares of DoorDash by 0.4% during the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock valued at $2,385,000 after acquiring an additional 54 shares during the period. LVW Advisors LLC grew its position in shares of DoorDash by 4.5% during the 2nd quarter. LVW Advisors LLC now owns 1,563 shares of the company's stock valued at $385,000 after acquiring an additional 68 shares during the period. Finally, SageView Advisory Group LLC grew its position in shares of DoorDash by 5.1% during the 1st quarter. SageView Advisory Group LLC now owns 1,435 shares of the company's stock valued at $262,000 after acquiring an additional 69 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DASH shares. Benchmark raised their target price on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. JMP Securities raised their price target on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Jefferies Financial Group raised their price target on shares of DoorDash from $265.00 to $280.00 and gave the company a "hold" rating in a research note on Friday. Finally, Wells Fargo & Company decreased their price target on shares of DoorDash from $306.00 to $301.00 and set an "equal weight" rating on the stock in a research note on Friday, October 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $282.91.

DoorDash Trading Down 1.4%

DASH opened at $263.06 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The company's 50 day simple moving average is $259.31 and its two-hundred day simple moving average is $229.57. DoorDash, Inc. has a 1-year low of $150.26 and a 1-year high of $285.50. The firm has a market capitalization of $112.38 billion, a price-to-earnings ratio of 146.15 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last released 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. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business 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. The business's revenue was up 24.9% on a year-over-year basis. Analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the transaction, the director directly owned 26,070 shares of the company's stock, valued at $6,442,157.70. This trade represents a 63.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the sale, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 993,105 shares of company stock valued at $248,566,566. Company insiders own 5.83% of the company's stock.

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.

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