CreativeOne Wealth LLC Increases Position in DoorDash, Inc. $DASH

CreativeOne Wealth LLC lifted its position in DoorDash, Inc. (NASDAQ:DASH) by 77.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,103 shares of the company’s stock after acquiring an additional 1,796 shares during the period. CreativeOne Wealth LLC’s holdings in DoorDash were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DASH. Night Squared LP purchased a new position in DoorDash during the 1st quarter worth approximately $2,780,000. Public Investment Fund increased its stake in shares of DoorDash by 68.3% in the first quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after acquiring an additional 333,369 shares during the period. Mutual of America Capital Management LLC purchased a new position in shares of DoorDash during the first quarter worth $7,200,000. Ardmore Road Asset Management LP lifted its position in DoorDash by 6.7% during the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock valued at $14,622,000 after purchasing an additional 5,000 shares during the period. Finally, Junto Capital Management LP purchased a new stake in DoorDash in the first quarter valued at $29,261,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Trading Up 0.3%

Shares of DASH stock opened at $195.98 on Friday. DoorDash, Inc. has a 1-year low of $155.40 and a 1-year high of $285.50. The company has a market cap of $84.47 billion, a price-to-earnings ratio of 99.48 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a 50 day simple moving average of $243.07 and a 200-day simple moving average of $238.18.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. DoorDash’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. On average, equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DASH. Royal Bank Of Canada reduced their price objective on DoorDash from $300.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $360.00 price target (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. JMP Securities boosted their price target on DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Bank of America dropped their price objective on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $280.00 target price on shares of DoorDash in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $275.62.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction that occurred 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 directly owned 214,147 shares in the company, valued at approximately $56,504,827.42. The trade was a 0.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $244.39, for a total value of $7,331,700.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 756,834 shares of company stock valued at $174,539,246. Corporate 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.