Pittenger & Anderson Inc. Increases Position in DoorDash, Inc. $DASH

Pittenger & Anderson Inc. lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 1,728.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,200 shares of the company’s stock after buying an additional 3,025 shares during the period. Pittenger & Anderson Inc.’s holdings in DoorDash were worth $789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DASH. Saudi Central Bank purchased a new position in shares of DoorDash during the first quarter valued at approximately $25,000. WPG Advisers LLC purchased a new position in shares of DoorDash during the first quarter valued at approximately $26,000. Pacific Center for Financial Services acquired a new position in DoorDash during the first quarter worth approximately $27,000. GFG Capital LLC acquired a new position in DoorDash during the second quarter worth approximately $30,000. Finally, Harbour Investments Inc. increased its position in 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. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

DASH has been the subject of several research analyst reports. Guggenheim raised shares of DoorDash to a “strong-buy” rating in a research report on Wednesday, October 15th. KeyCorp reaffirmed an “overweight” rating and set a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Morgan Stanley upped their price target on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. raised shares of DoorDash from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $325.00 in a research report on Tuesday, October 14th. Finally, Roth Capital upped their price target on shares of DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $285.26.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 34,166 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at approximately $139,605,508. This trade represents a 6.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.20, for a total transaction of $8,046,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 993,105 shares of company stock worth $248,566,566. 5.83% of the stock is currently owned by insiders.

DoorDash Price Performance

DoorDash stock opened at $261.97 on Wednesday. DoorDash, Inc. has a 52-week low of $150.26 and a 52-week high of $285.50. The firm has a fifty day moving average of $259.45 and a 200-day moving average of $231.17. The firm has a market capitalization of $111.91 billion, a P/E ratio of 145.54 and a beta of 1.71. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business earned ($0.38) earnings per share. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

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.