Pittenger & Anderson Inc. Increases Stock Position in DoorDash, Inc. $DASH

Key Points

• Pittenger & Anderson Inc. significantly increased its stake in DoorDash, Inc. by 1,728.6% during the second quarter, now owning 3,200 shares valued at $789,000.
• Insider trading activity has been notable, with Director Andy Fang selling 30,000 shares for over $8 million and COO Prabir Adarkar selling nearly 25,000 shares for approximately $6.8 million.
• Wall Street analysts show strong support for DoorDash, with multiple analysts giving the stock a buy rating and raising price targets, indicating a bullish outlook on its future performance.

Pittenger & Anderson Inc. boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1,728.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company's stock after acquiring an additional 3,025 shares during the period. Pittenger & Anderson Inc.'s holdings in DoorDash were worth $789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DASH. Perigon Wealth Management LLC increased its stake in DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company's stock valued at $912,000 after purchasing an additional 46 shares during the period. Yeomans Consulting Group Inc. increased its stake in DoorDash by 3.9% in the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company's stock valued at $326,000 after purchasing an additional 51 shares during the period. Palo Alto Wealth Advisors LLC increased its stake in DoorDash by 0.4% in the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock valued at $2,385,000 after purchasing an additional 54 shares during the period. LVW Advisors LLC increased its stake in DoorDash by 4.5% in the second quarter. LVW Advisors LLC now owns 1,563 shares of the company's stock valued at $385,000 after purchasing an additional 68 shares during the period. Finally, SageView Advisory Group LLC increased its stake in shares of DoorDash by 5.1% during the first quarter. SageView Advisory Group LLC now owns 1,435 shares of the company's stock worth $262,000 after acquiring an additional 69 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.20, for a total value of $8,046,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Prabir Adarkar sold 24,968 shares of the company's stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the completion of the sale, the chief operating officer directly owned 909,579 shares in the company, valued at $247,696,553.28. This trade represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 993,105 shares of company stock valued at $248,566,566. 5.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wedbush reiterated a "neutral" rating on shares of DoorDash in a research note on Friday, August 8th. Benchmark boosted their price target on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. KeyCorp reiterated an "overweight" rating and set a $325.00 price target (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Raymond James Financial reiterated a "strong-buy" rating and set a $325.00 price target (up from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Needham & Company LLC set a $300.00 price target on shares of DoorDash and gave the stock a "buy" rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $285.26.

DoorDash Trading Down 1.3%

Shares of DASH opened at $261.97 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm's 50-day moving average is $259.45 and its two-hundred day moving average is $231.17. DoorDash, Inc. has a twelve month low of $150.26 and a twelve month high of $285.50. The firm has a market capitalization of $111.91 billion, a P/E ratio of 145.54 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business posted ($0.38) earnings per share. The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. On average, research analysts predict 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.

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