DoorDash, Inc. $DASH Stock: Kingswood Wealth Advisors LLC Increases Holdings

Kingswood Wealth Advisors LLC raised its position in DoorDash, Inc. (NASDAQ:DASH) by 719.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,875 shares of the company’s stock after buying an additional 17,451 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in DoorDash were worth $3,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DASH. Financial Management Professionals Inc. bought a new stake in shares of DoorDash during the 3rd quarter worth approximately $1,152,000. Valley National Advisers Inc. increased its stake in DoorDash by 7,612.5% in the third quarter. Valley National Advisers Inc. now owns 1,234 shares of the company’s stock valued at $227,000 after acquiring an additional 1,218 shares during the last quarter. Signaturefd LLC increased its stake in DoorDash by 305.3% in the third quarter. Signaturefd LLC now owns 24,434 shares of the company’s stock valued at $4,485,000 after acquiring an additional 18,406 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in DoorDash by 60.2% in the third quarter. Citizens Financial Group Inc. RI now owns 53,152 shares of the company’s stock valued at $9,756,000 after acquiring an additional 19,971 shares during the last quarter. Finally, Sowell Financial Services LLC raised its position in DoorDash by 702.6% during the third quarter. Sowell Financial Services LLC now owns 22,617 shares of the company’s stock valued at $4,151,000 after purchasing an additional 19,799 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Price Performance

DASH stock opened at $168.44 on Tuesday. The company has a 50 day simple moving average of $201.31 and a 200 day simple moving average of $184.05. The stock has a market cap of $72.99 billion, a price-to-earnings ratio of 88.19 and a beta of 1.90. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $269.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the company earned $0.65 EPS. DoorDash’s revenue for the quarter was up 35.6% on a year-over-year basis. Research analysts anticipate that DoorDash, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DASH has been the subject of several recent analyst reports. Bank of America restated a “buy” rating on shares of DoorDash in a research note on Thursday, August 6th. Moffett Nathanson lowered their price target on DoorDash from $280.00 to $278.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Rosenblatt Securities began coverage on DoorDash in a report on Tuesday, September 1st. They set a “buy” rating and a $270.00 price target for the company. Argus upped their price objective on DoorDash from $190.00 to $270.00 in a research report on Thursday, August 27th. Finally, UBS Group reaffirmed a “buy” rating and issued a $295.00 price objective on shares of DoorDash in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.95.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 19,505 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $4,303,193.10. Following the sale, the chief financial officer owned 232,938 shares of the company’s stock, valued at $51,390,781.56. This trade represents a 7.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andy Fang sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $228.31, for a total value of $3,424,650.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 393,998 shares of company stock valued at $85,861,330. 44.90% of the stock is owned by company insiders.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is reportedly in exclusive or advanced talks to acquire Instacart, with a deal potentially being completed as soon as this week. Combining the two platforms could expand DoorDash’s grocery, retail and convenience-delivery scale, create cost synergies and improve its ability to compete with Uber Eats and Amazon. DoorDash Is in Advanced Talks to Acquire Delivery Rival Instacart
• Positive Sentiment: Instacart’s reported talks with Uber are no longer active, potentially leaving DoorDash as the leading buyer and reducing the likelihood of a competing bid. DoorDash in talks to buy delivery rival Instacart in $17B deal
• Neutral Sentiment: The reports remain unconfirmed, and the $17 billion figure and final transaction structure could change. Instacart’s stock jumped on the reports, indicating that markets view a deal as increasingly plausible, but DoorDash shareholders must wait for definitive terms. DoorDash in exclusive talks to acquire Instacart
• Negative Sentiment: The proposed purchase would be substantial relative to DoorDash’s roughly $73 billion market value. Investors may be concerned about debt, stock issuance, a potentially high valuation and the difficulty of integrating two large delivery businesses. Those risks appear to be outweighing the deal’s strategic benefits in the current trading reaction. DoorDash Circles Deal to Buy Instacart

DoorDash Company Profile

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.