Sheets Smith Wealth Management Invests $741,000 in DoorDash, Inc. $DASH

Key Points

• Sheets Smith Wealth Management has invested approximately $741,000 in DoorDash by acquiring 3,004 shares during the second quarter.
• Insider trading activity showed that CEO Tony Xu sold 51,250 shares, reducing his ownership to just 1,500 shares, as he and others sold a total of over $250 million in shares within the last 90 days.
• Several analysts have recently raised their price targets for DoorDash, with a consensus rating of "Moderate Buy" and an average target price of $271.55.

Sheets Smith Wealth Management acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,004 shares of the company's stock, valued at approximately $741,000.

A number of other large investors have also recently made changes to their positions in DASH. Saudi Central Bank acquired a new stake in shares of DoorDash in the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new position in DoorDash during the 1st quarter worth $26,000. Pacific Center for Financial Services purchased a new position in DoorDash during the 1st quarter worth $27,000. Harbour Investments Inc. lifted its position in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares during the period. Finally, SouthState Corp lifted its holdings in shares of DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after buying an additional 183 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Andy Fang sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $243.32, for a total transaction of $7,299,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 51,250 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $258.26, for a total value of $13,235,825.00. Following the sale, the chief executive officer directly owned 1,500 shares in the company, valued at approximately $387,390. The trade was a 97.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,020,055 shares of company stock valued at $250,222,491 over the last 90 days. Corporate insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

DASH has been the subject of several recent analyst reports. Oppenheimer raised their price objective on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Citigroup restated an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Bank of America increased their price objective on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Benchmark raised their price objective on DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets raised their price objective on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $271.55.

DoorDash Stock Performance

Shares of DASH stock opened at $260.74 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $251.73 and a two-hundred day moving average of $219.83. DoorDash, Inc. has a 52 week low of $140.53 and a 52 week high of $278.15. The company has a market cap of $111.39 billion, a P/E ratio of 144.86 and a beta of 1.70.

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 analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted ($0.38) earnings per share. DoorDash's quarterly revenue was up 24.9% compared to the same quarter last year. As a group, analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current 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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