GC Wealth Management RIA LLC Buys New Position in DoorDash, Inc. $DASH

Key Points

• GC Wealth Management RIA LLC has acquired a new position in DoorDash, purchasing 17,035 shares worth approximately $4.2 million in the second quarter.
• Wall Street analysts have increased their price targets for DoorDash, with Morgan Stanley setting a new target of $300, indicating a positive outlook for the company.
• Insider activity has seen significant stock sales, including CFO Ravi Inukonda selling 1,425 shares for over $379,000, hinting at potential concerns within the company's management.

GC Wealth Management RIA LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,035 shares of the company's stock, valued at approximately $4,199,000.

A number of other institutional investors have also modified their holdings of the company. Saudi Central Bank acquired a new position in DoorDash in the 1st quarter valued at $25,000. WPG Advisers LLC acquired a new position in DoorDash in the first quarter valued at $26,000. Pacific Center for Financial Services acquired a new position in DoorDash in the first quarter valued at $27,000. Harbour Investments Inc. increased its stake in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares during the last quarter. Finally, SouthState Corp increased its stake in DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DASH. Morgan Stanley upped their price objective on shares of DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. UBS Group upped their price target on shares of DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and set a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Bank of America upped their price objective on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Truist Financial upped their price objective on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $271.55.

Insider Activity

In other news, CFO Ravi Inukonda sold 1,425 shares of the firm's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $266.16, for a total transaction of $379,278.00. Following the completion of the sale, the chief financial officer owned 214,772 shares of the company's stock, valued at approximately $57,163,715.52. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total transaction of $11,048,707.10. The disclosure for this sale can be found here. Insiders have sold 971,480 shares of company stock worth $238,447,669 over the last quarter. Corporate insiders own 5.83% of the company's stock.

DoorDash Price Performance

DASH opened at $262.47 on Monday. The company has a fifty day simple moving average of $252.74 and a 200 day simple moving average of $221.49. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market cap of $112.13 billion, a price-to-earnings ratio of 145.82 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $140.53 and a twelve month high of $278.15.

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

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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