Empowered Funds LLC Raises Position in DoorDash, Inc. $DASH

Empowered Funds LLC increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 589.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 56,073 shares of the company’s stock after purchasing an additional 47,943 shares during the period. Empowered Funds LLC’s holdings in DoorDash were worth $13,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GFG Capital LLC acquired a new position in DoorDash during the 2nd quarter worth approximately $30,000. Saudi Central Bank purchased a new stake in shares of DoorDash in the first quarter valued at approximately $25,000. WPG Advisers LLC purchased a new stake in shares of DoorDash in the first quarter valued at approximately $26,000. Pacific Center for Financial Services purchased a new position in DoorDash in the first quarter worth $27,000. Finally, Harbour Investments Inc. lifted its holdings in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DASH shares. The Goldman Sachs Group cut their price target on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating for the company in a report on Friday, November 7th. Mizuho reduced their price target on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Barclays decreased their price target on DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. lowered their price target on DoorDash from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $279.00.

DoorDash Price Performance

DASH stock opened at $212.08 on Wednesday. The stock’s 50 day moving average price is $252.45 and its 200 day moving average price is $238.61. The firm has a market cap of $91.41 billion, a P/E ratio of 107.65 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. DoorDash, Inc. has a 1 year low of $155.40 and a 1 year high of $285.50.

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

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at approximately $224,813,943.54. This represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 51,250 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $258.26, for a total transaction of $13,235,825.00. Following the sale, the chief executive officer directly owned 1,500 shares in the company, valued at $387,390. This represents a 97.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 499,707 shares of company stock worth $127,140,411. Company insiders own 5.83% of the company’s stock.

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.