DoorDash, Inc. $DASH Shares Newly Acquired by Parkway Wealth Management Group LLC

Key Points

• Parkway Wealth Management Group acquired 15,915 DoorDash shares worth approximately $2.9 million in the third quarter. Institutional investors and hedge funds collectively own 90.64% of the company.
• DoorDash reported quarterly revenue of $4.45 billion, up 35.6% year over year and above analyst expectations, though earnings per share of $0.46 narrowly missed estimates.
• Analysts maintain a generally positive outlook, with DoorDash receiving a consensus “Moderate Buy” rating and an average price target of $254.95, above its reported opening price of $193.53.

Parkway Wealth Management Group LLC purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 15,915 shares of the company's stock, valued at approximately $2,921,000.

A number of other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in shares of DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company's stock worth $1,159,377,000 after acquiring an additional 2,225,954 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of DoorDash by 372.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company's stock worth $575,928,000 after acquiring an additional 2,472,980 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in DoorDash by 49.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock valued at $519,744,000 after acquiring an additional 1,145,078 shares during the period. Bank of America Corp DE raised its stake in DoorDash by 18.4% in the 1st quarter. Bank of America Corp DE now owns 3,449,266 shares of the company's stock valued at $517,907,000 after acquiring an additional 536,080 shares during the period. Finally, Amundi raised its stake in DoorDash by 31.1% in the 1st quarter. Amundi now owns 2,315,722 shares of the company's stock valued at $347,706,000 after acquiring an additional 549,387 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Up 2.3%

DASH stock opened at $193.53 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $83.86 billion, a price-to-earnings ratio of 101.32 and a beta of 1.90. The business's fifty day moving average price is $204.51 and its two-hundred day moving average price is $184.49. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $269.00.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%. The firm's quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. On average, equities analysts anticipate that DoorDash, Inc. will post 2.51 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 72,367 shares of DoorDash stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $225.16, for a total value of $16,294,153.72. Following the completion of the sale, the director owned 10,361 shares in the company, valued at $2,332,882.76. The trade was a 87.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Tony Xu sold 29,567 shares of DoorDash stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the completion of the sale, the chief executive officer owned 1,500 shares of the company's stock, valued at $345,000. This trade represents a 95.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 393,998 shares of company stock valued at $85,861,330 in the last quarter. Company insiders own 44.90% of the company's stock.

Wall Street Analyst Weigh In

DASH has been the subject of several research reports. Wells Fargo & Company raised their price target on DoorDash from $225.00 to $230.00 and gave the company a "cautious" rating in a report on Monday, October 5th. Truist Financial upped their price objective on shares of DoorDash from $330.00 to $336.00 and gave the company a "buy" rating in a report on Thursday, August 6th. BTIG Research reiterated a "buy" rating and issued a $225.00 price objective on shares of DoorDash in a report on Thursday, August 6th. Cantor Fitzgerald dropped their price objective on shares of DoorDash from $260.00 to $240.00 and set an "overweight" rating on the stock in a research report on Monday, October 12th. Finally, TD Cowen increased their price objective on shares of DoorDash from $225.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.95.

About DoorDash

DoorDash, Inc NASDAQ: DASH operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.

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