Janney Montgomery Scott LLC Increases Stock Position in DoorDash, Inc. $DASH

Key Points

• Janney Montgomery Scott LLC increased its stake in DoorDash by 25.0%, owning 69,171 shares valued at approximately $17 million following the purchase of an additional 13,841 shares.
• DoorDash's stock has shown significant volatility, with a 1-year low of $140.62 and a high of $278.15, currently trading at around $270.09.
• The company recently reported quarterly earnings of $0.65 EPS, exceeding analysts' expectations and marking a 24.9% revenue increase year-over-year.

Janney Montgomery Scott LLC increased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 25.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,171 shares of the company's stock after buying an additional 13,841 shares during the period. Janney Montgomery Scott LLC's holdings in DoorDash were worth $17,051,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Night Squared LP purchased a new stake in DoorDash during the first quarter worth $2,780,000. Mutual of America Capital Management LLC purchased a new stake in DoorDash during the first quarter worth $7,200,000. Public Investment Fund lifted its holdings in DoorDash by 68.3% during the first quarter. Public Investment Fund now owns 821,389 shares of the company's stock valued at $150,125,000 after purchasing an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP lifted its holdings in DoorDash by 6.7% during the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock valued at $14,622,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in DoorDash during the first quarter valued at $29,261,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of DASH opened at $270.09 on Friday. DoorDash, Inc. has a 1-year low of $140.62 and a 1-year high of $278.15. The stock has a market cap of $115.38 billion, a PE ratio of 150.05 and a beta of 1.71. The firm has a 50-day simple moving average of $255.09 and a two-hundred day simple moving average of $223.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results 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. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period last year, the business earned ($0.38) earnings per share. The business's revenue for the quarter was up 24.9% on a year-over-year basis. As a group, analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on DASH. BTIG Research increased their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. UBS Group increased their price objective on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Piper Sandler increased their price objective on shares of DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Bank of America increased their price objective on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $275.42.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total transaction of $11,048,707.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Prabir Adarkar sold 30,000 shares of DoorDash stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the sale, the chief operating officer owned 914,547 shares of the company's stock, valued at approximately $247,476,418.20. This represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 891,841 shares of company stock valued at $220,178,742. 5.83% of the stock is currently owned by company insiders.

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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