Kesler Norman & Wride LLC Takes $232,000 Position in DoorDash, Inc. $DASH

Kesler Norman & Wride LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 939 shares of the company’s stock, valued at approximately $232,000.

Several other hedge funds have also recently made changes to their positions in the business. Lifeworks Advisors LLC bought a new position in shares of DoorDash in the 2nd quarter worth approximately $218,000. Earned Wealth Advisors LLC grew its stake in DoorDash by 28.4% in the second quarter. Earned Wealth Advisors LLC now owns 2,647 shares of the company’s stock worth $652,000 after purchasing an additional 585 shares during the period. IFG Advisory LLC purchased a new stake in DoorDash in the second quarter worth $389,000. Simon Quick Advisors LLC grew its stake in DoorDash by 48.1% in the second quarter. Simon Quick Advisors LLC now owns 4,826 shares of the company’s stock worth $1,190,000 after purchasing an additional 1,568 shares during the period. Finally, AdvisorShares Investments LLC grew its stake in DoorDash by 9.3% in the second quarter. AdvisorShares Investments LLC now owns 656 shares of the company’s stock worth $162,000 after purchasing an additional 56 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Up 0.1%

DoorDash stock opened at $254.37 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 business’s fifty day simple moving average is $260.98 and its two-hundred day simple moving average is $236.05. DoorDash, Inc. has a 12 month low of $152.26 and a 12 month high of $285.50. The company has a market capitalization of $108.67 billion, a price-to-earnings ratio of 141.32 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $3.16 billion. During the same period last year, the business posted ($0.38) EPS. The company’s revenue was up 24.9% compared to the same quarter last year. As a group, equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 24,968 shares of the stock in a transaction on 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 $247,696,553.28. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total value of $12,180,324.30. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 852,704 shares of company stock valued at $213,921,205 over the last three months. 5.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler upped their price target on DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Oppenheimer upped their price target on DoorDash from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Wells Fargo & Company reduced their price target on DoorDash from $306.00 to $301.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. Mizuho set a $350.00 price target on DoorDash and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, Benchmark upped their price target on DoorDash from $260.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.88.

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.