Focus Partners Wealth Has $1.69 Million Stake in DoorDash, Inc. $DASH

Key Points

• Focus Partners Wealth significantly increased its stake in DoorDash, raising ownership by 251.6% to a total of 9,261 shares worth approximately $1.69 million.
• Directors Stanley Tang and Andy Fang sold a combined 75,410 shares of DoorDash stock for over $18 million in total, as disclosed in recent SEC filings.
• Analysts have raised their price targets for DoorDash, with estimates now ranging from $225 to $335, reflecting a consensus rating of "Moderate Buy" based on the company's recent earnings performance.

Focus Partners Wealth lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 251.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,261 shares of the company's stock after purchasing an additional 6,627 shares during the quarter. Focus Partners Wealth's holdings in DoorDash were worth $1,693,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Night Squared LP acquired a new position in DoorDash in the 1st quarter valued at $2,780,000. Mutual of America Capital Management LLC acquired a new position in DoorDash in the 1st quarter valued at $7,200,000. Ardmore Road Asset Management LP grew its stake in DoorDash by 6.7% in the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock valued at $14,622,000 after buying an additional 5,000 shares during the last quarter. Public Investment Fund grew its stake in DoorDash by 68.3% in the 1st quarter. Public Investment Fund now owns 821,389 shares of the company's stock valued at $150,125,000 after buying an additional 333,369 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in DoorDash in the 1st quarter valued at $29,261,000. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Price Performance

DASH stock traded down $3.84 during trading on Wednesday, hitting $259.25. 3,196,526 shares of the stock traded hands, compared to its average volume of 2,789,095. DoorDash, Inc. has a one year low of $130.32 and a one year high of $278.15. The stock has a market cap of $110.75 billion, a price-to-earnings ratio of 144.03 and a beta of 1.70. The company has a 50 day simple moving average of $249.13 and a 200 day simple moving average of $217.23. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Roth Capital raised their target price on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Jefferies Financial Group increased their price target on shares of DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 11th. BTIG Research increased their price target on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Needham & Company LLC set a $300.00 price target on shares of DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Piper Sandler increased their price target on shares of DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $268.76.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 51,250 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $258.26, for a total value of $13,235,825.00. Following the completion of the sale, the chief executive officer owned 1,500 shares in the company, valued at approximately $387,390. This trade represents a 97.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Tia Sherringham sold 2,924 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $250.00, for a total transaction of $731,000.00. Following the completion of the sale, the general counsel owned 112,782 shares of the company's stock, valued at $28,195,500. The trade was a 2.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,026,048 shares of company stock worth $251,592,950. Corporate insiders own 5.83% of the company's stock.

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.