Avidian Wealth Enterprises LLC Increases Stake in DoorDash, Inc. $DASH

Avidian Wealth Enterprises LLC lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,169 shares of the company’s stock after acquiring an additional 255 shares during the period. Avidian Wealth Enterprises LLC’s holdings in DoorDash were worth $535,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its holdings in shares of DoorDash by 0.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,845 shares of the company’s stock worth $10,695,000 after acquiring an additional 205 shares during the period. Calamos Wealth Management LLC lifted its holdings in shares of DoorDash by 1.2% during the 2nd quarter. Calamos Wealth Management LLC now owns 65,178 shares of the company’s stock worth $16,067,000 after acquiring an additional 746 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of DoorDash by 47.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,027 shares of the company’s stock worth $969,000 after acquiring an additional 1,288 shares during the period. Quotient Wealth Partners LLC lifted its holdings in shares of DoorDash by 5.1% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,489 shares of the company’s stock worth $367,000 after acquiring an additional 72 shares during the period. Finally, Carmel Capital Partners LLC lifted its holdings in shares of DoorDash by 12.1% during the 2nd quarter. Carmel Capital Partners LLC now owns 3,558 shares of the company’s stock worth $877,000 after acquiring an additional 385 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director owned 37,252 shares of the company’s stock, valued at approximately $10,336,312.44. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total transaction of $12,180,324.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 964,530 shares of company stock valued at $241,651,966. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Trading Down 3.7%

DASH opened at $252.31 on Thursday. The firm has a market capitalization of $107.79 billion, a P/E ratio of 140.17 and a beta of 1.71. The firm’s 50 day moving average is $259.41 and its 200-day moving average is $231.32. DoorDash, Inc. has a 52-week low of $150.26 and a 52-week high of $285.50. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Evercore ISI restated an “outperform” rating and issued a $360.00 price target (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. Roth Capital raised their price target on shares of DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a report on Monday, July 14th. DA Davidson raised their price target on shares of DoorDash from $190.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Jefferies Financial Group raised their price target on shares of DoorDash from $265.00 to $280.00 and gave the company a “hold” rating in a report on Friday, October 17th. Finally, Royal Bank Of Canada raised their price target on shares of DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $285.26.

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.