Franklin Street Advisors Inc. NC Raises Stake in DoorDash, Inc. $DASH

Franklin Street Advisors Inc. NC increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 7.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 148,468 shares of the company’s stock after buying an additional 9,747 shares during the period. DoorDash comprises 2.3% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 11th biggest holding. Franklin Street Advisors Inc. NC’s holdings in DoorDash were worth $36,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Saudi Central Bank purchased a new position in shares of DoorDash in the 1st quarter worth about $25,000. WPG Advisers LLC purchased a new stake in DoorDash during the first quarter valued at about $26,000. Pacific Center for Financial Services purchased a new stake in DoorDash during the first quarter valued at about $27,000. Harbour Investments Inc. lifted its holdings in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 70 shares during the last quarter. Finally, SouthState Corp lifted its holdings in DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after purchasing an additional 183 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the transaction, the director owned 26,070 shares in the company, valued at approximately $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,001,417 shares of company stock valued at $249,569,754 in the last ninety days. 5.83% of the stock is currently owned by company insiders.

DoorDash Stock Up 0.4%

DASH stock opened at $271.22 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $255.52 and its 200 day moving average is $223.92. The stock has a market cap of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71. DoorDash, Inc. has a 1-year low of $141.26 and a 1-year high of $278.15.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.38) earnings per share. Sell-side analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on DASH shares. Morgan Stanley upped their price objective on shares of DoorDash from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Roth Capital upped their price objective on shares of DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research report on Saturday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $330.00 price target on shares of DoorDash in a research report on Wednesday, September 17th. Finally, Zacks Research upgraded DoorDash to a “hold” rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.