LPL Financial LLC Raises Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• LPL Financial LLC increased its position in DoorDash by 30%, acquiring an additional 22,579 shares, bringing its total holdings to 97,771 shares valued at approximately $17.87 million.
• Despite recent insider selling, including CEO Tony Xu selling 4,042 shares, DoorDash reported $0.65 earnings per share in its last quarter, exceeding analysts' expectations by $0.23.
• The stock currently has a market capitalization of $109.38 billion and a consensus rating of "Moderate Buy" from analysts, with a price target of $235.56.

LPL Financial LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,771 shares of the company's stock after purchasing an additional 22,579 shares during the quarter. LPL Financial LLC's holdings in DoorDash were worth $17,870,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. ORG Partners LLC boosted its position in DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after purchasing an additional 202 shares during the period. Rothschild Investment LLC boosted its holdings in shares of DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after buying an additional 247 shares during the period. Mizuho Securities Co. Ltd. grew its stake in DoorDash by 150.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after buying an additional 180 shares during the last quarter. Washington Trust Advisors Inc. bought a new position in DoorDash in the 1st quarter worth $56,000. Finally, Cromwell Holdings LLC acquired a new position in DoorDash during the 1st quarter worth $58,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DASH. Jefferies Financial Group restated a "hold" rating and set a $250.00 target price (up previously from $235.00) on shares of DoorDash in a research note on Tuesday, July 15th. Wedbush reissued an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Citigroup restated an "outperform" rating on shares of DoorDash in a research note on Thursday. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Finally, DA Davidson increased their price target on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $255.65.

Insiders Place Their Bets

In related news, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the transaction, the director directly owned 22,545 shares of the company's stock, valued at approximately $4,903,988.40. This trade represents a 57.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $220.71, for a total value of $9,765,093.24. Following the sale, the chief executive officer owned 520,450 shares in the company, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 583,537 shares of company stock worth $133,720,004 in the last ninety days. Company insiders own 5.83% of the company's stock.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $12.91 during trading on Thursday, reaching $270.99. The stock had a trading volume of 10,877,242 shares, compared to its average volume of 4,790,867. DoorDash, Inc. has a 52 week low of $121.18 and a 52 week high of $278.15. The firm's fifty day moving average is $233.72 and its 200 day moving average is $205.22. The stock has a market cap of $114.83 billion, a price-to-earnings ratio of 351.94 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data 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 3.02% and a return on equity of 4.39%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the business posted ($0.38) EPS. DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. On average, research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.