Kaufman Rossin Wealth LLC Takes $511,000 Position in DoorDash, Inc. $DASH

Key Points

• Kaufman Rossin Wealth LLC acquired 2,795 shares of DoorDash, Inc., valued at approximately $511,000, signaling increased investor interest in the company.
• DoorDash reported a 24.9% year-over-year revenue increase, with earnings per share (EPS) of $0.65 for the latest quarter, surpassing expectations.
• Institutional investors now own 90.64% of DoorDash's shares, reflecting significant confidence from major financial entities in the company's growth potential.

Kaufman Rossin Wealth LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,795 shares of the company's stock, valued at approximately $511,000.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in DoorDash by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after acquiring an additional 641,601 shares in the last quarter. Invesco Ltd. grew its position in DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Northern Trust Corp grew its position in DoorDash by 38.2% in the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after acquiring an additional 915,512 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in DoorDash by 36.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after acquiring an additional 842,637 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DASH has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on DoorDash from $238.00 to $288.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Citigroup reiterated an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Wedbush reiterated a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. JMP Securities lifted their target price on DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their target price on DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

DoorDash Stock Down 0.8%

DASH stock traded down $2.04 during trading on Monday, hitting $245.28. 1,995,814 shares of the company's stock were exchanged, compared to its average volume of 4,702,849. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15. The stock has a market capitalization of $104.78 billion, a price-to-earnings ratio of 136.27 and a beta of 1.70. 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 business has a 50-day moving average price of $242.93 and a two-hundred day moving average price of $211.13.

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 firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the previous year, the company earned ($0.38) earnings per share. DoorDash's quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction 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 transaction, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 905,179 shares of company stock valued at $217,357,737 in the last ninety days. 5.83% of the stock is currently owned by insiders.

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.