Petra Financial Advisors Inc. Acquires Shares of 2,705 DoorDash, Inc. $DASH

Petra Financial Advisors Inc. acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,705 shares of the company’s stock, valued at approximately $667,000.

Other institutional investors have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of DoorDash by 15.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,200 shares of the company’s stock valued at $14,347,000 after purchasing an additional 8,000 shares in the last quarter. a16z Perennial Management L.P. purchased a new position in DoorDash in the second quarter worth about $3,350,000. SYM FINANCIAL Corp grew its position in DoorDash by 38.0% in the second quarter. SYM FINANCIAL Corp now owns 2,247 shares of the company’s stock worth $554,000 after acquiring an additional 619 shares in the last quarter. Facet Wealth Inc. purchased a new position in DoorDash in the second quarter worth about $316,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in DoorDash in the second quarter worth about $916,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the subject of several recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $325.00 price objective (up from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Susquehanna lifted their price objective on shares of DoorDash from $235.00 to $300.00 and gave the stock a “positive” rating in a research note on Monday, August 11th. JMP Securities boosted their target price on DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a research report on Wednesday, October 8th. Finally, BTIG Research restated a “buy” rating and set a $315.00 target price on shares of DoorDash in a research report on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $290.82.

Insider Activity

In other news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $263.86, for a total transaction of $376,000.50. Following the completion of the sale, the chief financial officer owned 214,147 shares in the company, valued at approximately $56,504,827.42. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the transaction, the director directly owned 37,252 shares of the company’s stock, valued at $10,336,312.44. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 928,114 shares of company stock worth $232,553,670. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Up 2.0%

DoorDash stock opened at $263.35 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market cap of $112.50 billion, a P/E ratio of 146.31 and a beta of 1.71. The business has a fifty day moving average of $259.95 and a two-hundred day moving average of $233.86. DoorDash, Inc. has a twelve month low of $152.26 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm posted ($0.38) earnings per share. The company’s quarterly revenue was up 24.9% on a year-over-year basis. On average, analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal 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.