Stratos Wealth Advisors LLC Invests $4.27 Million in DoorDash, Inc. $DASH

Key Points

• Stratos Wealth Advisors LLC invested approximately $4.27 million in DoorDash, purchasing 17,336 shares during the 2nd quarter.
• Institutional ownership of DoorDash stock is high, with 90.64% of shares held by institutional investors, including significant increases from firms like Vanguard and AQR Capital Management.
• DoorDash recently reported earnings that exceeded expectations, with $3.28 billion in revenue for the quarter, representing a 24.9% increase year-over-year.

Stratos Wealth Advisors LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 17,336 shares of the company's stock, valued at approximately $4,273,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DASH. Vanguard Group Inc. boosted its position in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC raised its stake in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after buying an additional 1,497,636 shares during the period. Invesco Ltd. raised its stake in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after buying an additional 1,416,194 shares during the period. Nuveen LLC acquired a new stake in DoorDash during the 1st quarter worth $211,415,000. Finally, Deutsche Bank AG raised its stake in DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock worth $367,313,000 after buying an additional 1,058,731 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. This trade represents a 68.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the transaction, the director owned 26,070 shares of the company's stock, valued at $6,442,157.70. The trade was a 63.53% 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 over the last 90 days. 5.83% of the stock is currently owned by insiders.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $266.67 on Friday. The stock has a market capitalization of $113.92 billion, a price-to-earnings ratio of 148.15 and a beta of 1.71. The business has a 50-day moving average of $259.23 and a 200-day moving average of $229.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a fifty-two week low of $149.80 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate 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%.DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) EPS. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on DASH. Piper Sandler raised their price objective on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and set a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Guggenheim raised DoorDash to a "strong-buy" rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Finally, Oppenheimer raised their price objective on DoorDash from $310.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $282.47.

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.

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