Trust Asset Management LLC Takes Position in DoorDash, Inc. $DASH

Trust Asset Management LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, HoldingsChannel reports. The fund purchased 3,892 shares of the company’s stock, valued at approximately $959,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its stake in shares of DoorDash by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 47,300 shares of the company’s stock valued at $11,660,000 after buying an additional 300 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of DoorDash in the second quarter valued at about $288,000. Shell Asset Management Co. increased its stake in shares of DoorDash by 32.5% in the second quarter. Shell Asset Management Co. now owns 9,116 shares of the company’s stock valued at $2,247,000 after buying an additional 2,235 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of DoorDash in the second quarter valued at about $600,000. Finally, KLP Kapitalforvaltning AS increased its stake in shares of DoorDash by 5.1% in the second quarter. KLP Kapitalforvaltning AS now owns 126,600 shares of the company’s stock valued at $31,208,000 after buying an additional 6,100 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the transaction, the director owned 26,070 shares in the company, valued at approximately $6,442,157.70. This represents a 63.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares in the company, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,000,229 shares of company stock worth $249,280,188 in the last three months. Insiders own 5.83% of the company’s stock.

DoorDash Stock Down 1.8%

Shares of NASDAQ:DASH opened at $276.78 on Wednesday. The business’s 50 day simple moving average is $256.89 and its two-hundred day simple moving average is $225.36. The firm has a market cap of $118.24 billion, a P/E ratio of 153.77 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 52-week low of $141.26 and a 52-week high of $285.08.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DASH. Roth Capital increased their price target on DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. BMO Capital Markets upped their target price on DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Truist Financial upped their target price on DoorDash from $272.00 to $326.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Bank of America upped their target price on DoorDash from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, Benchmark upped their target price on DoorDash from $260.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Two 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 company. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price 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.