Kingswood Wealth Advisors LLC Makes New $600,000 Investment in DoorDash, Inc. $DASH

Key Points

• Kingswood Wealth Advisors LLC invested approximately $600,000 in DoorDash, acquiring 2,434 shares during the 2nd quarter, reflecting growing interest from institutional investors.
• CEO Tony Xu and Director Andy Fang sold significant amounts of DoorDash stock, indicating insider activity with Fang selling 30,000 shares for over $8 million and Xu selling 34,166 shares for nearly $9.2 million.
• DoorDash's stock is currently valued at around $275.44, with a market capitalization of $117.67 billion and a recent increase in analysts' target prices, suggesting a Moderate Buy rating overall.

Kingswood Wealth Advisors LLC acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,434 shares of the company's stock, valued at approximately $600,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Night Squared LP acquired a new position in shares of DoorDash in the 1st quarter worth approximately $2,780,000. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash in the 1st quarter worth approximately $7,200,000. Public Investment Fund grew its position in shares of DoorDash by 68.3% in the 1st quarter. Public Investment Fund now owns 821,389 shares of the company's stock worth $150,125,000 after acquiring an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP grew its position in shares of DoorDash by 6.7% in the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock worth $14,622,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of DoorDash in the 1st quarter worth approximately $29,261,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Andy Fang sold 30,000 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.20, for a total value of $8,046,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 34,166 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total value of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at $139,605,508. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,001,054 shares of company stock worth $249,511,188 over the last ninety days. 5.83% of the stock is currently owned by company insiders.

DoorDash Stock Down 2.0%

Shares of DoorDash stock opened at $275.44 on Friday. The business's fifty day moving average price is $258.06 and its two-hundred day moving average price is $226.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $117.67 billion, a P/E ratio of 153.02 and a beta of 1.71. DoorDash, Inc. has a 1-year low of $141.76 and a 1-year high of $285.08.

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. The firm had revenue of $3.28 billion for 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 firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.38) EPS. As a group, research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analyst Weigh In

DASH has been the subject of several research reports. Piper Sandler lifted their target price on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Wedbush reiterated a "neutral" rating on shares of DoorDash in a research report on Friday, August 8th. UBS Group lifted their target price on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Bank of America boosted their price objective on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average target price of $275.27.

DoorDash Company 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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