Wealth Enhancement Advisory Services LLC Increases Holdings in DoorDash, Inc. (NASDAQ:DASH)

Wealth Enhancement Advisory Services LLC grew its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 12.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 43,817 shares of the company's stock after acquiring an additional 4,827 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in DoorDash were worth $8,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DASH. Brighton Jones LLC grew its holdings in shares of DoorDash by 24.0% during 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 during the period. Principal Financial Group Inc. grew its holdings in shares of DoorDash by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 93,382 shares of the company's stock worth $15,665,000 after acquiring an additional 2,596 shares during the period. Truist Financial Corp grew its holdings in shares of DoorDash by 35.1% during the 4th quarter. Truist Financial Corp now owns 8,597 shares of the company's stock worth $1,442,000 after acquiring an additional 2,233 shares during the period. Global Retirement Partners LLC grew its holdings in shares of DoorDash by 13.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,897 shares of the company's stock worth $318,000 after acquiring an additional 232 shares during the period. Finally, Howard Capital Management Inc. grew its holdings in shares of DoorDash by 5.1% during the 4th quarter. Howard Capital Management Inc. now owns 1,841 shares of the company's stock worth $309,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DASH. Oppenheimer restated a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. JPMorgan Chase & Co. cut their price target on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Citigroup restated an "outperform" rating on shares of DoorDash in a research note on Thursday, June 12th. Evercore ISI restated an "outperform" rating on shares of DoorDash in a research note on Monday, March 10th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $210.00 price target on shares of DoorDash in a research note on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and an average price target of $213.29.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 44,244 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the transaction, the chief executive officer now owns 520,450 shares of the company's stock, valued at approximately $114,868,519.50. This represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the transaction, the chief financial officer now directly owns 337,430 shares in the company, valued at approximately $63,173,644.60. This represents a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,559 shares of company stock valued at $66,306,707 over the last ninety days. 5.83% of the stock is owned by insiders.

DoorDash Trading Up 2.5%

NASDAQ:DASH opened at $236.17 on Wednesday. The company has a market capitalization of $100.07 billion, a P/E ratio of 306.72 and a beta of 1.67. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $237.42. The business's 50-day moving average is $202.59 and its 200 day moving average is $190.12.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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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