DoorDash, Inc. $DASH Stock Acquired by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors increased its DoorDash stake by 352.8% in the third quarter, bringing its holdings to 180,528 shares valued at approximately $33.1 million. Institutional investors collectively own 90.64% of the company.
• DoorDash reported quarterly revenue of $4.45 billion, up 35.6% year over year, but adjusted earnings of $0.46 per share narrowly missed analyst estimates. The stock opened at $191.67, with a market capitalization of about $83.1 billion.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $254.95, although insiders have sold nearly 394,000 shares worth $85.9 million over the past 90 days.

Nisa Investment Advisors LLC raised its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 352.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,528 shares of the company's stock after buying an additional 140,659 shares during the period. Nisa Investment Advisors LLC's holdings in DoorDash were worth $33,136,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Activest Wealth Management lifted its holdings in shares of DoorDash by 892.9% during the 3rd quarter. Activest Wealth Management now owns 139 shares of the company's stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Washington Trust Advisors Inc. grew its position in DoorDash by 81.0% in the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company's stock worth $26,000 after acquiring an additional 64 shares in the last quarter. Clark Wealth Partners grew its position in DoorDash by 833.3% in the third quarter. Clark Wealth Partners now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 175 shares in the last quarter. CENTRAL TRUST Co increased its stake in DoorDash by 269.4% in the first quarter. CENTRAL TRUST Co now owns 266 shares of the company's stock valued at $40,000 after acquiring an additional 194 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new position in DoorDash in the first quarter valued at $55,000. Institutional investors own 90.64% of the company's stock.

DoorDash Price Performance

DASH stock opened at $191.67 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $269.00. The firm's fifty day moving average is $204.10 and its 200 day moving average is $184.78. The firm has a market cap of $83.05 billion, a P/E ratio of 100.35 and a beta of 1.90.

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

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 29,567 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $230.00, for a total value 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 approximately $345,000. The trade was a 95.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 55,289 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total value of $12,813,778.64. Following the sale, the chief operating officer owned 930,211 shares of the company's stock, valued at $215,585,701.36. This represents a 5.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 393,998 shares of company stock valued at $85,861,330. 44.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BTIG Research restated a "buy" rating and set a $225.00 price target on shares of DoorDash in a research report on Thursday, August 6th. Barclays cut DoorDash from an "equal weight" rating to a "strong sell" rating in a report on Monday, August 24th. Loop Capital increased their price objective on DoorDash from $225.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, September 22nd. Sanford C. Bernstein reiterated an "outperform" rating on shares of DoorDash in a research report on Thursday, September 3rd. Finally, Scotiabank began coverage on DoorDash in a report on Wednesday, September 9th. They set a "sector outperform" rating and a $275.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus price target 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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