Pallas Capital Advisors LLC Increases Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Pallas Capital Advisors LLC lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 470.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,062 shares of the company’s stock after purchasing an additional 11,597 shares during the quarter. Pallas Capital Advisors LLC’s holdings in DoorDash were worth $2,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DASH. Brighton Jones LLC boosted its holdings in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of DoorDash by 2.7% in the 4th quarter. Yousif Capital Management LLC now owns 4,484 shares of the company’s stock worth $752,000 after purchasing an additional 118 shares during the period. Choreo LLC boosted its holdings in shares of DoorDash by 6.3% in the 4th quarter. Choreo LLC now owns 4,894 shares of the company’s stock worth $830,000 after purchasing an additional 291 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of DoorDash in the 4th quarter worth approximately $78,000. Finally, Apollon Wealth Management LLC boosted its holdings in DoorDash by 59.2% during the 4th quarter. Apollon Wealth Management LLC now owns 2,437 shares of the company’s stock valued at $409,000 after acquiring an additional 906 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $217.49 on Tuesday. The business’s 50-day moving average is $192.53 and its 200 day moving average is $186.84. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $220.88. The firm has a market capitalization of $92.16 billion, a P/E ratio of 805.52 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the company posted ($0.06) EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on DASH. KeyCorp dropped their price objective on DoorDash from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Roth Capital set a $191.00 price objective on DoorDash and gave the company a “neutral” rating in a report on Wednesday, May 7th. Needham & Company LLC boosted their price objective on DoorDash from $225.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Benchmark boosted their price objective on DoorDash from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, FBN Securities began coverage on DoorDash in a report on Friday, March 28th. They set an “outperform” rating and a $230.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.97.

Insider Activity at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 14,715 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $196.52, for a total value of $2,891,791.80. Following the completion of the transaction, the chief financial officer now directly owns 338,055 shares in the company, valued at $66,434,568.60. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 298,030 shares of company stock valued at $59,433,406 in the last ninety days. Corporate insiders own 5.83% of the company’s stock.

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.