Sagespring Wealth Partners LLC Acquires 959 Shares of DoorDash, Inc. $DASH

Sagespring Wealth Partners LLC boosted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 40.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,312 shares of the company's stock after purchasing an additional 959 shares during the period. Sagespring Wealth Partners LLC's holdings in DoorDash were worth $817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. TD Asset Management Inc grew its holdings in shares of DoorDash by 1.4% in the 2nd quarter. TD Asset Management Inc now owns 375,033 shares of the company's stock valued at $92,449,000 after acquiring an additional 5,023 shares in the last quarter. Windmill Hill Asset Management Ltd acquired a new position in shares of DoorDash during the 2nd quarter worth approximately $386,000. Moran Wealth Management LLC increased its position in shares of DoorDash by 28.9% during the 2nd quarter. Moran Wealth Management LLC now owns 1,628 shares of the company's stock worth $401,000 after purchasing an additional 365 shares during the last quarter. NorthRock Partners LLC acquired a new position in shares of DoorDash during the 2nd quarter worth approximately $1,015,000. Finally, Atria Wealth Solutions Inc. increased its position in shares of DoorDash by 20.1% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 3,305 shares of the company's stock worth $791,000 after purchasing an additional 552 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of DASH stock opened at $272.61 on Thursday. DoorDash, Inc. has a 52 week low of $147.31 and a 52 week high of $285.08. The company has a market capitalization of $116.46 billion, a price-to-earnings ratio of 151.45 and a beta of 1.71. The company has a 50-day simple moving average of $259.32 and a 200 day simple moving average of $228.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business's revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.38) earnings per share. On average, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Raymond James Financial reissued a "strong-buy" rating and issued a $325.00 target price (up from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. DA Davidson lifted their price objective on shares of DoorDash from $190.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Piper Sandler lifted their price target on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, October 11th. Finally, Jefferies Financial Group lifted their price target on DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and a consensus price target of $281.29.

Insiders Place Their Bets

In other news, Director Shona L. Brown sold 1,250 shares of the business's stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $277.47, for a total value of $346,837.50. Following the completion of the sale, the director owned 37,252 shares of the company's stock, valued at approximately $10,336,312.44. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 34,166 shares of the business's stock in a transaction dated 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 directly owned 520,450 shares of the company's stock, valued at $139,605,508. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 968,137 shares of company stock worth $241,767,280 over the last three months. 5.83% of the stock is currently owned by corporate insiders.

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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