Shell Asset Management Co. Acquires 2,235 Shares of DoorDash, Inc. $DASH

Shell Asset Management Co. raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 32.5% in the second quarter, HoldingsChannel.com reports. The firm owned 9,116 shares of the company’s stock after purchasing an additional 2,235 shares during the quarter. Shell Asset Management Co.’s holdings in DoorDash were worth $2,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Kingswood Wealth Advisors LLC bought a new stake in DoorDash in the 2nd quarter valued at about $600,000. KLP Kapitalforvaltning AS boosted its holdings in DoorDash by 5.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 126,600 shares of the company’s stock valued at $31,208,000 after purchasing an additional 6,100 shares during the period. Belpointe Asset Management LLC bought a new stake in DoorDash in the 2nd quarter valued at about $1,053,000. Fishman Jay A Ltd. MI bought a new stake in DoorDash in the 2nd quarter valued at about $256,000. Finally, Valeo Financial Advisors LLC boosted its holdings in DoorDash by 17.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,818 shares of the company’s stock valued at $448,000 after purchasing an additional 266 shares during the period. Institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $281.05 on Thursday. The company has a 50 day simple moving average of $257.55 and a 200 day simple moving average of $225.75. The stock has a market cap of $120.06 billion, a price-to-earnings ratio of 156.14 and a beta of 1.71. DoorDash, Inc. has a 1 year low of $141.76 and a 1 year high of $285.08. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion during 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%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.38) EPS. Research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $13,787,000.00. Following the completion of the transaction, the director owned 22,545 shares of the company’s stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,001,054 shares of company stock valued at $249,511,188. Insiders own 5.83% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $330.00 price target on shares of DoorDash in a report on Wednesday, September 17th. UBS Group upped their price target on shares of DoorDash from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Needham & Company LLC set a $300.00 price target on shares of DoorDash and gave the stock a “buy” rating in a report on Thursday, August 7th. Stifel Nicolaus upped their price target on shares of DoorDash from $214.00 to $239.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Finally, Susquehanna upped their price target on shares of DoorDash from $235.00 to $300.00 and gave the stock a “positive” rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.27.

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.