1858 Wealth Management LLC Purchases 475 Shares of DoorDash, Inc. $DASH

1858 Wealth Management LLC lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 30.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,021 shares of the company’s stock after purchasing an additional 475 shares during the quarter. 1858 Wealth Management LLC’s holdings in DoorDash were worth $498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GFG Capital LLC bought a new position in shares of DoorDash during the second quarter worth $30,000. Saudi Central Bank bought a new position in shares of DoorDash during the first quarter worth $25,000. WPG Advisers LLC bought a new position in shares of DoorDash during the first quarter worth $26,000. Pacific Center for Financial Services bought a new position in shares of DoorDash during the first quarter worth $27,000. Finally, Harbour Investments Inc. boosted its position 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 in the last quarter. 90.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DASH has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on shares of DoorDash from $272.00 to $326.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. KeyCorp reiterated an “overweight” rating and issued a $325.00 price target (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Stifel Nicolaus upped their price target on shares of DoorDash from $214.00 to $239.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Zacks Research upgraded shares of DoorDash to a “hold” rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada upped their price target on shares of DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $275.27.

DoorDash Stock Performance

Shares of DASH opened at $266.02 on Friday. DoorDash, Inc. has a 12 month low of $143.37 and a 12 month high of $285.08. The firm has a fifty day simple moving average of $258.41 and a 200 day simple moving average of $226.97. The stock has a market capitalization of $113.64 billion, a price-to-earnings ratio of 147.79 and a beta of 1.71. 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 announced its earnings results on Wednesday, August 6th. The company reported $0.65 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company posted ($0.38) earnings per share. The firm’s revenue was up 24.9% on a year-over-year basis. Research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total value of $12,180,324.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Prabir Adarkar sold 30,000 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the completion of the sale, the chief operating officer owned 914,547 shares of the company’s stock, valued at approximately $247,476,418.20. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,001,054 shares of company stock valued at $249,511,188. 5.83% of the stock is owned by company insiders.

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.