LeConte Wealth Management LLC Takes Position in DoorDash, Inc. $DASH

Key Points

• LeConte Wealth Management LLC acquired 1,085 shares of DoorDash, valued at approximately $267,000, as reported in a recent SEC filing.
• DoorDash reported a strong earnings result of $0.65 per share, surpassing analyst expectations, with a year-over-year revenue increase of 24.9%.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., significantly increased their stakes in DoorDash during the first quarter of the year.

LeConte Wealth Management LLC acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,085 shares of the company's stock, valued at approximately $267,000.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 during the last quarter. Invesco Ltd. lifted its holdings in shares of 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 during the last quarter. Northern Trust Corp lifted its holdings in shares of 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 during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Down 1.9%

Shares of NASDAQ DASH opened at $260.74 on Thursday. The firm has a 50-day simple moving average of $251.73 and a two-hundred day simple moving average of $219.83. 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, Inc. has a 1 year low of $140.53 and a 1 year high of $278.15. The company has a market cap of $111.39 billion, a P/E ratio of 144.86 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly 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. 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 the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. The company's revenue was up 24.9% on a year-over-year basis. Research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity

In other news, insider Keith Yandell sold 18,034 shares of DoorDash stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.16, for a total transaction of $4,385,147.44. Following the completion of the sale, the insider owned 75,432 shares of the company's stock, valued at approximately $18,342,045.12. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total transaction of $11,048,707.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,020,055 shares of company stock valued at $250,222,491. Insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on DASH shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $330.00 price target on shares of DoorDash in a report on Wednesday, September 17th. Bank of America increased their price target on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Oppenheimer increased their price target on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. DA Davidson raised their price objective on shares of DoorDash from $190.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Finally, Loop Capital reissued a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $271.55.

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.

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