Venturi Wealth Management LLC Acquires New Shares in DoorDash, Inc. $DASH

Key Points

• Venturi Wealth Management LLC acquired 1,168 shares of DoorDash, valued at approximately $288,000, as part of their investment strategy during the second quarter.
• DoorDash reported earnings of $0.65 per share for the last quarter, exceeding analysts' expectations, with revenue of $3.28 billion, a 24.9% increase year-over-year.
• Insider transactions revealed significant selling activity, with 1,001,054 shares sold by corporate insiders in the last quarter, indicating potential shifts in management confidence.

Venturi Wealth Management LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,168 shares of the company's stock, valued at approximately $288,000.

Several other hedge funds have also recently bought and sold shares of DASH. Brighton Jones LLC increased its stake in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares in the last quarter. GAMMA Investing LLC increased its stake in DoorDash by 70.4% in the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after purchasing an additional 794 shares in the last quarter. Integrated Advisors Network LLC acquired a new stake in DoorDash during the 1st quarter valued at $255,000. Simon Quick Advisors LLC grew its holdings in DoorDash by 75.3% during the 1st quarter. Simon Quick Advisors LLC now owns 3,258 shares of the company's stock valued at $595,000 after buying an additional 1,400 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in DoorDash by 4,131.4% during the 1st quarter. Fifth Third Bancorp now owns 15,233 shares of the company's stock valued at $2,784,000 after buying an additional 14,873 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

DASH stock opened at $266.02 on Friday. DoorDash, Inc. has a 52-week low of $143.37 and a 52-week high of $285.08. The stock's fifty day simple moving average is $258.41 and its 200-day simple moving average is $226.73. 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 stock has a market capitalization of $113.64 billion, a price-to-earnings ratio of 147.79 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 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business's quarterly revenue was up 24.9% on a year-over-year basis. During the same period last year, the company posted ($0.38) EPS. Equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on 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 directly owned 22,545 shares in the company, valued at $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. Over the last quarter, insiders sold 1,001,054 shares of company stock valued at $249,511,188. Corporate insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DASH. Mizuho set a $350.00 target price on DoorDash and gave the company an "outperform" rating in a report on Monday, September 29th. Wells Fargo & Company lowered their target price on DoorDash from $306.00 to $301.00 and set an "equal weight" rating on the stock in a report on Friday, October 3rd. Zacks Research upgraded DoorDash to a "hold" rating in a report on Tuesday, August 12th. Stifel Nicolaus increased their target price on DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $275.27.

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.

Want to see what other hedge funds are holding DASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DoorDash, Inc. (NASDAQ:DASH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.