Wealthedge Investment Advisors LLC Invests $790,000 in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Wealthedge Investment Advisors LLC invested approximately $790,000 in DoorDash, purchasing 4,324 shares during the first quarter.
• Institutional investors now hold 90.64% of DoorDash's stock, with significant stakes increased by firms like Harbour Investments Inc. and Rothschild Investment LLC.
• Analysts have raised their price targets for DoorDash, with a consensus rating of "Moderate Buy" and an average price target of $263.88.

Wealthedge Investment Advisors LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,324 shares of the company's stock, valued at approximately $790,000.

Other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. increased its stake in DoorDash by 55.6% in the first 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 last quarter. SouthState Corp increased its stake in DoorDash by 762.5% in 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. ORG Partners LLC increased its stake in DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC increased its stake in DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after acquiring an additional 247 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. increased its stake in DoorDash by 150.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after acquiring an additional 180 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on DASH. Cantor Fitzgerald reissued an "overweight" rating and issued a $260.00 target price (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Evercore ISI reissued an "outperform" rating and issued a $360.00 target price (up previously from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Benchmark upped their price target on shares of DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Loop Capital restated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Finally, Citigroup restated an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Twelve investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Stock Performance

Shares of DASH opened at $247.44 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. The company has a 50-day simple moving average of $239.30 and a two-hundred day simple moving average of $208.49. The firm has a market capitalization of $104.85 billion, a PE ratio of 137.47 and a beta of 1.70.

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, beating the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business earned ($0.38) earnings per share. The business's revenue was up 24.9% on a year-over-year basis. On average, analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 686,437 shares of company stock valued at $161,070,166 over the last ninety days. Company insiders own 5.83% of the company's stock.

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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