Kestra Private Wealth Services LLC Makes New $441,000 Investment in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Kestra Private Wealth Services LLC has invested $441,000 in DoorDash, acquiring 2,412 shares, marking a significant addition in the 1st quarter.
• Insider trading activity includes Director Stanley Tang selling over 45,000 shares for approximately $10.9 million, a transaction representing a 63.53% decrease in his ownership.
• Analysts generally hold a positive outlook on DoorDash, with an average price target of $232.12 and various firms offering ratings ranging from "hold" to "strong buy."

Kestra Private Wealth Services LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,412 shares of the company's stock, valued at approximately $441,000.

Several other institutional investors have also recently made changes to their positions in the business. Financial Harvest LLC purchased a new position in shares of DoorDash during the first quarter valued at about $3,492,000. Allegiance Financial Group Advisory Services LLC purchased a new position in shares of DoorDash in the 1st quarter worth $358,000. Private Advisor Group LLC grew its stake in shares of DoorDash by 7.2% in the 1st quarter. Private Advisor Group LLC now owns 14,942 shares of the company's stock worth $2,731,000 after buying an additional 1,010 shares in the last quarter. Yeomans Consulting Group Inc. purchased a new position in shares of DoorDash in the 1st quarter worth $241,000. Finally, Hollencrest Capital Management grew its stake in shares of DoorDash by 168.0% in the 1st quarter. Hollencrest Capital Management now owns 804 shares of the company's stock worth $147,000 after buying an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on DASH. Stifel Nicolaus set a $198.00 price target on DoorDash and gave the stock a "hold" rating in a research report on Tuesday, June 10th. JMP Securities lifted their price target on shares of DoorDash from $235.00 to $250.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Benchmark lifted their price target on shares of DoorDash from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. DA Davidson boosted their target price on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Loop Capital restated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $232.12.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 20,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $247.00, for a total value of $4,940,000.00. Following the transaction, the chief financial officer directly owned 245,530 shares of the company's stock, valued at approximately $60,645,910. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 441,773 shares of company stock worth $98,711,043 over the last 90 days. 5.83% of the stock is owned by insiders.

DoorDash Stock Up 2.6%

NASDAQ DASH opened at $249.92 on Friday. DoorDash, Inc. has a 52 week low of $102.81 and a 52 week high of $250.23. The business's fifty day simple moving average is $226.30 and its 200-day simple moving average is $201.03. The firm has a market cap of $105.90 billion, a PE ratio of 324.58 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) earnings per share. Research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

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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