Allegiance Financial Group Advisory Services LLC Boosts Holdings in DoorDash, Inc. $DASH

Allegiance Financial Group Advisory Services LLC raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 16.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,277 shares of the company’s stock after acquiring an additional 317 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in DoorDash were worth $561,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in DASH. Saudi Central Bank purchased a new stake in DoorDash in the first quarter valued at $25,000. WPG Advisers LLC purchased a new stake in DoorDash in the first quarter valued at $26,000. Pacific Center for Financial Services purchased a new stake in DoorDash in the first quarter valued at $27,000. Harbour Investments Inc. boosted its holdings 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 purchasing an additional 70 shares during the last quarter. Finally, SouthState Corp boosted its stake in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock worth $38,000 after acquiring an additional 183 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Up 1.5%

Shares of DoorDash stock opened at $281.05 on Thursday. The firm has a market capitalization of $120.06 billion, a PE ratio of 156.14 and a beta of 1.71. DoorDash, Inc. has a twelve month low of $141.76 and a twelve month high of $285.08. The firm’s 50-day moving average price is $257.55 and its 200 day moving average price is $225.75. 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 (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted ($0.38) EPS. On average, sell-side analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 22,545 shares of the company’s stock, valued at $6,216,558.30. This trade represents a 68.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was 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 trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,001,054 shares of company stock valued at $249,511,188. Company insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DASH shares. Cantor Fitzgerald reissued an “overweight” rating and set a $330.00 target price on shares of DoorDash in a research note on Wednesday, September 17th. Wall Street Zen raised shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Wedbush reissued a “neutral” rating on shares of DoorDash in a research note on Friday, August 8th. Raymond James Financial reissued a “strong-buy” rating and set a $325.00 target price (up from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada increased their target price on shares of DoorDash from $230.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $275.27.

DoorDash 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.