Empower Advisory Group LLC Boosts Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Empower Advisory Group LLC raised its holdings in DoorDash by 13.2% in Q1, now owning 74,093 shares worth $13.54 million.
• Analysts have remained positive on DoorDash, with several firms raising their target prices, leading to an average target price of $235.56 and a rating of "Moderate Buy."
• Significant insider selling has occurred, with COO Prabir Adarkar selling 62,267 shares recently, reducing their position by 6.20%.

Empower Advisory Group LLC increased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 13.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,093 shares of the company's stock after buying an additional 8,632 shares during the period. Empower Advisory Group LLC's holdings in DoorDash were worth $13,542,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Cary Street Partners Financial LLC increased its stake in DoorDash by 4.6% in the 1st quarter. Cary Street Partners Financial LLC now owns 19,643 shares of the company's stock worth $3,590,000 after buying an additional 872 shares during the period. ING Groep NV increased its position in DoorDash by 2,025.7% during the 1st quarter. ING Groep NV now owns 162,251 shares of the company's stock valued at $29,655,000 after purchasing an additional 154,618 shares during the period. Earned Wealth Advisors LLC purchased a new position in DoorDash during the 1st quarter valued at about $377,000. Allianz SE purchased a new position in DoorDash during the 1st quarter valued at about $6,817,000. Finally, Raiffeisen Bank International AG increased its position in DoorDash by 283.2% during the 1st quarter. Raiffeisen Bank International AG now owns 12,430 shares of the company's stock valued at $2,270,000 after purchasing an additional 9,186 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

DASH stock traded down $11.80 during trading on Friday, reaching $259.19. The company had a trading volume of 5,340,842 shares, compared to its average volume of 3,280,438. The firm has a 50-day simple moving average of $236.11 and a 200-day simple moving average of $206.45. The company has a market cap of $109.83 billion, a price-to-earnings ratio of 144.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 2.07. DoorDash, Inc. has a twelve month low of $121.44 and a twelve month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.65 EPS 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 company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the business earned ($0.38) EPS. DoorDash's revenue for the quarter was up 24.9% on a year-over-year basis. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $247.04, for a total transaction of $7,411,200.00. Following the completion of the sale, the director directly owned 22,545 shares in the company, valued at approximately $5,569,516.80. The trade was a 57.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 583,537 shares of company stock worth $133,720,004. Corporate insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DASH. Oppenheimer raised their target price on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday. Piper Sandler raised their target price on shares of DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday. Wells Fargo & Company raised their target price on shares of DoorDash from $239.00 to $280.00 and gave the company an "equal weight" rating in a research report on Thursday. Truist Financial raised their target price on shares of DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Sanford C. Bernstein raised their target price on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Twelve investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $259.18.

DoorDash 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.