Focus Partners Advisor Solutions LLC Takes Position in DoorDash, Inc. $DASH

Key Points

• Focus Partners Advisor Solutions LLC acquired a new position in DoorDash, purchasing approximately 6,945 shares for around $1.27 million.
• DoorDash's latest earnings report showed an EPS of $0.65, surpassing estimates and indicating a year-over-year revenue increase of 24.9%.
• Several analysts have raised their price targets for DoorDash, with the consensus now at $263.88 following a mixture of "Buy" and "Hold" ratings.

Focus Partners Advisor Solutions LLC acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,945 shares of the company's stock, valued at approximately $1,269,000.

A number of other hedge funds have also recently added to or reduced their stakes in DASH. Brighton Jones LLC increased its stake in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of DoorDash in the 4th quarter valued at $237,000. Comerica Bank increased its stake in shares of DoorDash by 6.1% in the 4th quarter. Comerica Bank now owns 19,764 shares of the company's stock valued at $3,315,000 after purchasing an additional 1,136 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of DoorDash by 77.0% in the 4th quarter. Ameriprise Financial Inc. now owns 643,352 shares of the company's stock valued at $107,928,000 after purchasing an additional 279,809 shares during the last quarter. Finally, Caxton Associates LP bought a new position in shares of DoorDash in the 4th quarter valued at $613,000. Institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DASH shares. Citigroup reiterated an "outperform" rating on shares of DoorDash in a research note on Thursday, August 7th. Raymond James Financial reiterated a "strong-buy" rating and issued a $325.00 price target (up previously from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. BMO Capital Markets lifted their price target on DoorDash from $238.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Bank of America boosted their price objective on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, UBS Group boosted their price objective on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $264.65.

DoorDash Trading Up 0.8%

DASH traded up $1.86 during midday trading on Monday, hitting $248.71. 1,150,477 shares of the company were exchanged, compared to its average volume of 4,583,786. The firm has a market capitalization of $106.25 billion, a P/E ratio of 138.17 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $122.73 and a 1-year high of $278.15. The firm's 50 day moving average price is $246.58 and its 200-day moving average price is $214.09. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

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

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. The trade was a 63.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,019,042 shares of company stock valued at $248,122,219 over the last 90 days. 5.83% of the stock is owned by corporate insiders.

DoorDash Company 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.