Ritholtz Wealth Management Purchases 1,323 Shares of DoorDash, Inc. $DASH

Key Points

• Ritholtz Wealth Management increased its holdings in DoorDash by 100.7% during the second quarter, owning a total of 2,637 shares valued at $650,000.
• DoorDash reported a net margin of 6.57% and revenue of $3.28 billion for the quarter, exceeding estimates and showing a 24.9% year-over-year growth.
• Insider selling was notable, with COO Prabir Adarkar and CEO Tony Xu selling shares valued at over $15 million combined in recent transactions.

Ritholtz Wealth Management grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 100.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,637 shares of the company's stock after purchasing an additional 1,323 shares during the quarter. Ritholtz Wealth Management's holdings in DoorDash were worth $650,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Night Squared LP acquired a new stake in shares of DoorDash in the first quarter worth $2,780,000. Mutual of America Capital Management LLC acquired a new stake in shares of DoorDash in the first quarter worth $7,200,000. Public Investment Fund grew its stake in shares of DoorDash by 68.3% in the first 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 during the last quarter. Ardmore Road Asset Management LP grew its stake in shares of DoorDash by 6.7% in the first 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 during the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of DoorDash in the first quarter worth $29,261,000. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Down 1.4%

Shares of NASDAQ:DASH opened at $263.06 on Friday. DoorDash, Inc. has a 52 week low of $150.26 and a 52 week high of $285.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The company's fifty day moving average is $259.31 and its 200-day moving average is $229.85. The company has a market capitalization of $112.38 billion, a PE ratio of 146.15 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 EPS 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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company earned ($0.38) EPS. The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. Equities research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 24,968 shares of the business's stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total value of $6,799,285.76. Following the sale, the chief operating officer owned 909,579 shares in the company, valued at approximately $247,696,553.28. The trade was a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the completion of the sale, the chief executive officer 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 993,105 shares of company stock worth $248,566,566 in the last three months. Company insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

DASH has been the topic of several research analyst reports. Needham & Company LLC set a $300.00 price objective on shares of DoorDash and gave the stock a "buy" rating in a research note on Thursday, August 7th. Mizuho set a $350.00 price objective on shares of DoorDash and gave the stock an "outperform" rating in a research note on Monday, September 29th. BMO Capital Markets lifted their price target on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upgraded shares of DoorDash from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $175.00 to $325.00 in a research note on Tuesday, October 14th. Finally, JMP Securities lifted their price target on shares of DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $282.91.

About DoorDash

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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