DoorDash, Inc. $DASH Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 30.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 16,144 shares of the company’s stock after acquiring an additional 3,768 shares during the period. Summit Investment Advisors Inc.’s holdings in DoorDash were worth $2,951,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of DASH. GFG Capital LLC acquired a new stake in shares of DoorDash during the 2nd quarter valued at about $30,000. Saudi Central Bank purchased a new position in DoorDash during the first quarter worth approximately $25,000. WPG Advisers LLC acquired a new stake in DoorDash in the first quarter valued at approximately $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash in the first quarter valued at approximately $27,000. Finally, Harbour Investments Inc. raised its stake in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Up 4.0%

DASH opened at $204.31 on Friday. The firm has a market capitalization of $87.28 billion, a price-to-earnings ratio of 103.71 and a beta of 1.70. The company’s 50 day simple moving average is $258.75 and its two-hundred day simple moving average is $237.66. DoorDash, Inc. has a 1-year low of $155.40 and a 1-year high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate 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 for the quarter 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. Analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on DASH. Evercore ISI reissued an “outperform” rating and issued a $360.00 price target (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. The Goldman Sachs Group dropped their target price on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday. KeyCorp reissued an “overweight” rating and set a $325.00 target price (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Susquehanna decreased their price target on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research note on Friday. Finally, Wall Street Zen lowered DoorDash from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.62.

Insider Activity

In other news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total value of $11,048,707.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares of the company’s stock, valued at $224,813,943.54. This represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 876,527 shares of company stock valued at $218,129,954. 5.83% of the stock is currently owned by 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.