Jackson Thornton Wealth Management LLC Buys New Position in DoorDash, Inc. $DASH

Key Points

• Jackson Thornton Wealth Management LLC acquired a new position in DoorDash during the second quarter, purchasing 1,188 shares valued at around $287,000.
• DoorDash's recent quarterly earnings report showed a 24.9% increase in revenue year-over-year, with earnings per share of $0.65, exceeding analyst estimates.
• Several analysts have raised their price targets for DoorDash, with JMP Securities setting a target of $335.00, reflecting positive sentiment around the stock's performance.

Jackson Thornton Wealth Management LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,188 shares of the company's stock, valued at approximately $287,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Saudi Central Bank bought a new stake in shares of DoorDash during the 1st quarter valued at about $25,000. WPG Advisers LLC bought a new position in DoorDash in the first quarter worth approximately $26,000. Pacific Center for Financial Services bought a new position in DoorDash in the first quarter worth approximately $27,000. GFG Capital LLC bought a new position in DoorDash in the second quarter worth approximately $30,000. Finally, Harbour Investments Inc. boosted its holdings in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $265.37 on Tuesday. The company has a market cap of $113.37 billion, a PE ratio of 147.43 and a beta of 1.71. DoorDash, Inc. has a 52 week low of $150.26 and a 52 week high of $285.50. The business has a 50 day moving average price of $259.49 and a 200-day moving average price of $230.96. 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 issued its quarterly earnings data 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 during 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 company's quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.38) earnings per share. Equities analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

DASH has been the topic of several recent research reports. Jefferies Financial Group increased their price target on DoorDash from $265.00 to $280.00 and gave the stock a "hold" rating in a report on Friday. Loop Capital reiterated a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Sanford C. Bernstein increased their price target on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. UBS Group increased their price target on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, JMP Securities increased their price target on DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $285.26.

Insider Activity at DoorDash

In related news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director directly owned 37,252 shares of the company's stock, valued at approximately $10,336,312.44. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 34,166 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total value of $9,164,687.84. Following the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at $139,605,508. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 993,105 shares of company stock valued at $248,566,566 in the last ninety days. Insiders own 5.83% of the company's stock.

About DoorDash

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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