Opes Wealth Management LLC Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Opes Wealth Management LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,621 shares of the company's stock, valued at approximately $1,941,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SYM FINANCIAL Corp bought a new stake in DoorDash during the first quarter worth about $298,000. Oak Thistle LLC acquired a new position in shares of DoorDash during the 1st quarter worth about $569,000. Proficio Capital Partners LLC raised its stake in DoorDash by 8.3% in the first quarter. Proficio Capital Partners LLC now owns 1,416 shares of the company's stock valued at $259,000 after buying an additional 108 shares during the period. KLP Kapitalforvaltning AS raised its stake in DoorDash by 17.7% in the first quarter. KLP Kapitalforvaltning AS now owns 120,500 shares of the company's stock valued at $22,024,000 after buying an additional 18,100 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in DoorDash by 16.5% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 291,258 shares of the company's stock valued at $53,233,000 after buying an additional 41,180 shares during the period. Institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction dated Thursday, June 5th. The stock was 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 legal filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 44,244 shares of DoorDash stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $220.71, for a total value of $9,765,093.24. Following the completion of the transaction, the chief executive officer directly owned 520,450 shares of the company's stock, valued at approximately $114,868,519.50. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 441,773 shares of company stock worth $98,711,043. Corporate insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DASH. UBS Group dropped their price objective on DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Benchmark upped their price objective on DoorDash from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Finally, Needham & Company LLC increased their target price on DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $232.12.

DoorDash Stock Up 2.6%

DASH traded up $6.23 during midday trading on Friday, hitting $249.92. 3,051,438 shares of the company were exchanged, compared to its average volume of 3,405,321. DoorDash, Inc. has a 1-year low of $102.81 and a 1-year high of $250.23. The firm's 50 day moving average price is $226.30 and its 200-day moving average price is $201.03. The firm has a market capitalization of $105.90 billion, a P/E ratio of 324.58 and a beta of 1.70.

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

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.