Wealthfront Advisers LLC Has $18.01 Million Stake in DoorDash, Inc. $DASH

Wealthfront Advisers LLC grew its holdings in DoorDash, Inc. (NASDAQ:DASH) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,069 shares of the company’s stock after acquiring an additional 3,078 shares during the quarter. Wealthfront Advisers LLC’s holdings in DoorDash were worth $18,012,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Saudi Central Bank acquired a new position in shares of DoorDash in the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in DoorDash in the first quarter valued at approximately $26,000. Pacific Center for Financial Services acquired a new position in shares of DoorDash in the first quarter valued at approximately $27,000. GFG Capital LLC acquired a new position in shares of DoorDash in the second quarter valued at approximately $30,000. Finally, Harbour Investments Inc. increased 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 acquiring an additional 70 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 1.4%

DASH stock opened at $258.15 on Friday. The company has a market cap of $110.28 billion, a price-to-earnings ratio of 143.42 and a beta of 1.71. DoorDash, Inc. has a twelve month low of $152.26 and a twelve month high of $285.50. The business has a 50 day moving average price of $259.75 and a two-hundred day moving average price of $233.03. 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 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm posted ($0.38) EPS. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. Analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on DASH. Mizuho set a $350.00 price objective on shares of DoorDash and gave the company an “outperform” rating in a research report on Monday, September 29th. KeyCorp restated an “overweight” rating and issued a $325.00 price target (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. UBS Group upped their price objective on DoorDash from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Oppenheimer lifted their target price on DoorDash from $310.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, Wall Street Zen upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Four equities 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 stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $287.79.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 34,166 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total value of $9,164,687.84. Following the sale, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at approximately $139,605,508. This represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Prabir Adarkar sold 24,968 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the completion of the sale, the chief operating officer owned 909,579 shares of the company’s stock, valued at $247,696,553.28. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 932,156 shares of company stock valued at $233,565,302. 5.83% of the stock is owned by company insiders.

DoorDash Company 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.