Kingswood Wealth Advisors LLC Invests $600,000 in DoorDash, Inc. $DASH

Kingswood Wealth Advisors LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH) during the second quarter, Holdings Channel reports. The firm acquired 2,434 shares of the company’s stock, valued at approximately $600,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS raised its stake in shares of DoorDash by 5.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 126,600 shares of the company’s stock worth $31,208,000 after buying an additional 6,100 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of DoorDash during the second quarter worth $1,053,000. Fishman Jay A Ltd. MI acquired a new stake in shares of DoorDash during the second quarter worth $256,000. Valeo Financial Advisors LLC raised its position in shares of DoorDash by 17.1% during the second quarter. Valeo Financial Advisors LLC now owns 1,818 shares of the company’s stock worth $448,000 after purchasing an additional 266 shares during the period. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in shares of DoorDash during the second quarter worth $331,000. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 825 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $280.00, for a total value of $231,000.00. Following the completion of the sale, the director owned 38,502 shares of the company’s stock, valued at $10,780,560. The trade was a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 34,166 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total value 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 $139,605,508. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,001,054 shares of company stock valued at $249,511,188. 5.83% of the stock is owned by corporate insiders.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $275.44 on Friday. The business’s 50-day moving average price is $258.06 and its two-hundred day moving average price is $226.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a one year low of $141.76 and a one year high of $285.08. The company has a market capitalization of $117.67 billion, a P/E ratio of 153.02 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. Analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DASH. Piper Sandler boosted their target price on DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Benchmark boosted their target price on DoorDash from $260.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Mizuho set a $350.00 target price on DoorDash and gave the stock an “outperform” rating in a research report on Monday, September 29th. Wedbush reiterated a “neutral” rating on shares of DoorDash in a report on Friday, August 8th. Finally, BTIG Research lifted their price target on DoorDash from $225.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.27.

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.