Three Bridge Wealth Advisors LLC Makes New $331,000 Investment in DoorDash, Inc. $DASH

Key Points

• Three Bridge Wealth Advisors LLC has purchased a new stake in DoorDash, Inc., investing approximately $331,000 for 1,344 shares in the 2nd quarter.
• DoorDash recently reported earnings of $0.65 EPS, surpassing expectations, with revenue of $3.28 billion, marking a 24.9% year-over-year increase.
• Research analysts have revised DoorDash's price targets upwards, with several firms giving the stock a "Buy" rating and an average target of $275.27.

Three Bridge Wealth Advisors LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,344 shares of the company's stock, valued at approximately $331,000.

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

DoorDash Trading Up 0.4%

Shares of NASDAQ:DASH opened at $271.22 on Friday. The stock has a 50 day moving average of $255.52 and a 200 day moving average of $224.15. The company has a market cap of $115.87 billion, a PE ratio of 150.68 and a beta of 1.71. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 12-month low of $141.26 and a 12-month high of $278.15.

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

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at approximately $6,442,157.70. The trade was a 63.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,001,417 shares of company stock valued at $249,569,754. Insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DASH. Truist Financial upped their price objective on shares of DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. DA Davidson upped their target price on shares of DoorDash from $190.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the stock a "buy" rating in a research note on Thursday, August 7th. Sanford C. Bernstein increased their price target on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, BMO Capital Markets increased their price target on shares of DoorDash from $238.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and an average price target of $275.27.

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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