Simon Quick Advisors LLC Raises Holdings in DoorDash, Inc. $DASH

Simon Quick Advisors LLC increased its position in DoorDash, Inc. (NASDAQ:DASH) by 48.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,826 shares of the company’s stock after buying an additional 1,568 shares during the quarter. Simon Quick Advisors LLC’s holdings in DoorDash were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Perigon Wealth Management LLC raised its position in shares of DoorDash by 1.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock worth $912,000 after buying an additional 46 shares during the period. Yeomans Consulting Group Inc. raised its position in shares of DoorDash by 3.9% in the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock worth $326,000 after buying an additional 51 shares during the period. Palo Alto Wealth Advisors LLC raised its position 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 period. AdvisorShares Investments LLC raised its position in shares of DoorDash by 9.3% in the 2nd quarter. AdvisorShares Investments LLC now owns 656 shares of the company’s stock worth $162,000 after buying an additional 56 shares during the period. Finally, LVW Advisors LLC raised its position in shares of DoorDash by 4.5% in the 2nd quarter. LVW Advisors LLC now owns 1,563 shares of the company’s stock worth $385,000 after buying an additional 68 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler raised their price objective on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Sanford C. Bernstein raised their price objective on DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Citigroup reissued an “outperform” rating on shares of DoorDash in a research report on Thursday, August 7th. Truist Financial raised their price objective on DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Barclays assumed coverage on DoorDash in a research report on Friday, October 24th. They issued an “equal weight” rating and a $272.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $291.88.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 24,968 shares of DoorDash stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the sale, the chief operating officer directly owned 909,579 shares of the company’s stock, valued at approximately $247,696,553.28. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $263.86, for a total value of $376,000.50. Following the sale, the chief financial officer directly owned 214,147 shares in the company, valued at approximately $56,504,827.42. The trade was a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 852,704 shares of company stock valued at $213,921,205. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Down 4.5%

Shares of NASDAQ DASH opened at $254.07 on Friday. DoorDash, Inc. has a 1 year low of $152.26 and a 1 year high of $285.50. The firm has a market cap of $108.54 billion, a price-to-earnings ratio of 141.15 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. The stock’s 50-day simple moving average is $260.84 and its 200-day simple moving average is $235.17.

DoorDash (NASDAQ:DASH) last announced its earnings results 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. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company earned ($0.38) earnings per share. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.