Virtus Wealth Solutions LLC Takes $5.67 Million Position in DoorDash, Inc. $DASH

Key Points

• Virtus Wealth Solutions LLC has acquired a new stake in DoorDash, Inc., investing approximately $5.67 million for 22,979 shares, making it the 22nd largest holding in their portfolio.
• Several institutional investors, including Brighton Jones LLC and Park Avenue Securities LLC, have also increased their positions in DoorDash, with institutional ownership now at 90.64%.
• DoorDash recently reported a significant earnings beat with an EPS of $0.65 for the last quarter, exceeding analyst expectations and marking a revenue increase of 24.9% year-over-year.

Virtus Wealth Solutions LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 22,979 shares of the company's stock, valued at approximately $5,665,000. DoorDash accounts for approximately 1.2% of Virtus Wealth Solutions LLC's investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds have also modified their holdings of DASH. Brighton Jones LLC boosted its holdings in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in DoorDash during the 1st quarter worth $249,000. Park Avenue Securities LLC lifted its holdings in DoorDash by 9.3% during the 1st quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock worth $1,831,000 after buying an additional 850 shares in the last quarter. Wesbanco Bank Inc. acquired a new position in DoorDash during the 1st quarter worth $201,000. Finally, Toth Financial Advisory Corp lifted its holdings in DoorDash by 86.0% during the 1st quarter. Toth Financial Advisory Corp now owns 4,650 shares of the company's stock worth $850,000 after buying an additional 2,150 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Friday, August 1st. The shares were 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 $6,442,157.70. This represents a 63.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 22,545 shares of the company's stock, valued at $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,000,229 shares of company stock worth $249,280,188 in the last 90 days. Company insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on DASH. Morgan Stanley upped their price objective on DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Roth Capital increased their price target on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wedbush reissued a "neutral" rating on shares of DoorDash in a research note on Friday, August 8th. Evercore ISI reissued an "outperform" rating and issued a $360.00 price target (up previously from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Finally, Truist Financial increased their price target on DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $275.27.

DoorDash Price Performance

DASH stock opened at $276.78 on Wednesday. The stock has a 50-day moving average price of $256.89 and a two-hundred day moving average price of $225.36. The stock has a market cap of $118.24 billion, a PE ratio of 153.77 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 1 year low of $141.26 and a 1 year high of $285.08.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results 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 firm 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 company's revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) EPS. Equities analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal 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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