1,295 Shares in DoorDash, Inc. (NASDAQ:DASH) Acquired by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC made a new investment in DoorDash, acquiring 1,295 shares for approximately $237,000 during the first quarter.
• Institutional investors continue to increase their stakes in DoorDash, with Vanguard Group alone raising its position by 25.8%, owning over $7.2 billion in shares.
• DoorDash reported a notable 24.9% revenue growth year-over-year, with earnings per share of $0.65, surpassing analysts' expectations of $0.42 for the quarter.

Frank Rimerman Advisors LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,295 shares of the company's stock, valued at approximately $237,000.

Other large investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC purchased a new position in DoorDash during the 1st quarter valued at $7,200,000. Blair William & Co. IL increased its position in DoorDash by 12.8% during the 1st quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock valued at $887,000 after purchasing an additional 551 shares during the period. Brighton Jones LLC increased its position in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares during the period. Flagship Harbor Advisors LLC increased its position in DoorDash by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after purchasing an additional 206 shares during the period. Finally, GAMMA Investing LLC increased its position in DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after purchasing an additional 794 shares during the period. Institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on DASH shares. Bank of America boosted their price objective on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Needham & Company LLC set a $300.00 price objective on shares of DoorDash and gave the company a "buy" rating in a research report on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 target price (up from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Morgan Stanley upped their target price on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $260.00 target price (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Twelve research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $263.88.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the sale, the chief operating officer directly owned 942,554 shares of the company's stock, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the sale, the director directly owned 22,545 shares of the company's stock, valued at $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 686,437 shares of company stock worth $161,070,166 over the last quarter. Company insiders own 5.83% of the company's stock.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded down $10.12 during trading on Wednesday, hitting $254.20. The company's stock had a trading volume of 4,378,093 shares, compared to its average volume of 3,483,383. The company has a 50-day moving average of $238.66 and a 200-day moving average of $208.04. DoorDash, Inc. has a 12 month low of $122.32 and a 12 month high of $278.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $107.71 billion, a price-to-earnings ratio of 141.22 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the prior year, the business earned ($0.38) EPS. The business's quarterly revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.