3,365 Shares in DoorDash, Inc. $DASH Acquired by Summit Global Investments

Summit Global Investments acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,365 shares of the company’s stock, valued at approximately $830,000.

A number of other large investors have also recently made changes to their positions in the business. Gilbert & Cook Inc. boosted its holdings in DoorDash by 2.6% during the second quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock worth $415,000 after purchasing an additional 42 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock worth $912,000 after acquiring an additional 46 shares during the period. Advisory Resource Group grew its stake in DoorDash by 0.8% during the second quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock valued at $1,423,000 after acquiring an additional 48 shares in the last quarter. Yeomans Consulting Group Inc. grew its position in DoorDash by 3.9% during the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock worth $326,000 after buying an additional 51 shares in the last quarter. Finally, Palo Alto Wealth Advisors LLC increased its holdings in shares of DoorDash by 0.4% in the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company’s stock worth $2,385,000 after buying an additional 54 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Down 0.8%

DASH opened at $188.08 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $247.13 and its two-hundred day moving average is $238.69. The company has a market capitalization of $81.06 billion, a P/E ratio of 95.47 and a beta of 1.70. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. Analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DASH shares. Mizuho cut their target price on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a research report on Wednesday, October 8th. Jefferies Financial Group raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Wednesday, November 19th. Truist Financial upped their price target on shares of DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Piper Sandler lifted their target price on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.62.

Insider Activity

In related news, CEO Tony Xu sold 288,410 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total value of $56,539,896.40. Following the completion of the sale, the chief executive officer owned 232,040 shares of the company’s stock, valued at approximately $45,489,121.60. This trade represents a 55.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Prabir Adarkar sold 30,000 shares of DoorDash stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at $247,476,418.20. This trade represents a 3.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 732,345 shares of company stock worth $169,950,987. 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.