Wealth Enhancement Advisory Services LLC Raises Holdings in DoorDash, Inc. $DASH

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in DoorDash, Inc. by 24.2%, owning a total of 54,421 shares valued at approximately $12.99 million as of the latest SEC filing.
• CEO Tony Xu sold 51,250 shares for over $13 million, drastically reducing his ownership by 97.16%.
• DoorDash stock saw a 1.0% decline with a market cap of $113.33 billion, and analysts maintain a consensus rating of "Moderate Buy" with a price target around $268.76.

Wealth Enhancement Advisory Services LLC grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 24.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,421 shares of the company's stock after purchasing an additional 10,604 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in DoorDash were worth $12,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Saudi Central Bank acquired a new position in shares of DoorDash during the 1st quarter worth about $25,000. WPG Advisers LLC acquired a new position in DoorDash in the 1st quarter valued at $26,000. Pacific Center for Financial Services bought a new position in shares of DoorDash in the 1st quarter valued at $27,000. Harbour Investments Inc. grew its holdings in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares during the last quarter. Finally, SouthState Corp raised its stake in shares of DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Performance

NASDAQ:DASH traded down $2.54 during trading hours on Monday, reaching $262.75. The company had a trading volume of 2,952,096 shares, compared to its average volume of 3,044,862. The firm has a market cap of $112.25 billion, a price-to-earnings ratio of 145.97 and a beta of 1.70. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm's 50 day moving average price is $250.63 and its 200-day moving average price is $219.23. DoorDash, Inc. has a 52 week low of $138.59 and a 52 week high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 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 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 in the prior year, the business earned ($0.38) earnings per share. On average, analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DASH. Wells Fargo & Company raised their price target on shares of DoorDash from $280.00 to $306.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Citigroup reissued an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Benchmark lifted their price target on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Evercore ISI restated an "outperform" rating and issued a $360.00 price objective (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Finally, JMP Securities raised their target price on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and a consensus price target of $268.76.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. This represents a 55.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,022,728 shares of company stock valued at $250,841,825 in the last 90 days. 5.83% of the stock is owned by company insiders.

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.