Fortis Capital Advisors LLC Makes New Investment in DoorDash, Inc. $DASH

Key Points

• Fortis Capital Advisors LLC has invested approximately $1,053,000 in DoorDash, acquiring 4,273 shares during the second quarter of 2023.
• DoorDash reported $3.28 billion in revenue for the last quarter, surpassing analysts' expectations of $3.16 billion, and achieved a 24.9% year-over-year revenue growth.
• Several brokerages including Raymond James and Morgan Stanley have upgraded their ratings and price targets for DoorDash, with targets ranging from $265.00 to $325.00.

Fortis Capital Advisors LLC bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,273 shares of the company's stock, valued at approximately $1,053,000.

Several other large investors have also added to or reduced their stakes in the stock. Perigon Wealth Management LLC boosted its stake in DoorDash by 1.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock worth $912,000 after purchasing an additional 46 shares during the period. Yeomans Consulting Group Inc. boosted its stake in DoorDash by 3.9% in the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company's stock worth $326,000 after purchasing an additional 51 shares during the period. Palo Alto Wealth Advisors LLC boosted its stake in DoorDash by 0.4% in the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock worth $2,385,000 after purchasing an additional 54 shares during the period. LVW Advisors LLC boosted its stake in DoorDash by 4.5% in the 2nd quarter. LVW Advisors LLC now owns 1,563 shares of the company's stock worth $385,000 after purchasing an additional 68 shares during the period. Finally, SageView Advisory Group LLC boosted its stake in DoorDash by 5.1% in the 1st quarter. SageView Advisory Group LLC now owns 1,435 shares of the company's stock worth $262,000 after purchasing an additional 69 shares during the period. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $271.22 on Friday. The stock has a market cap of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71. 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, Inc. has a 1-year low of $141.26 and a 1-year high of $278.15. The stock's 50-day moving average is $255.52 and its 200 day moving average is $223.92.

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

Insider Transactions at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the sale, the director owned 22,545 shares of the company's stock, valued at $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,001,417 shares of company stock valued at $249,569,754. 5.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on DASH. Raymond James Financial restated a "strong-buy" rating and issued a $325.00 target price (up previously from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Piper Sandler lifted their price target on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Morgan Stanley lifted their price target on DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer lifted their price target on DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, BTIG Research lifted their price target on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $275.27.

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.

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