Fortis Capital Advisors LLC Acquires Shares of 4,273 DoorDash, Inc. $DASH

Fortis Capital Advisors LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 4,273 shares of the company’s stock, valued at approximately $1,053,000.

Several other hedge funds have also recently made changes to their positions in the business. Franklin Street Advisors Inc. NC increased its stake in shares of DoorDash by 7.0% during the second quarter. Franklin Street Advisors Inc. NC now owns 148,468 shares of the company’s stock valued at $36,599,000 after buying an additional 9,747 shares during the period. Ascent Group LLC increased its stake in shares of DoorDash by 32.5% during the second quarter. Ascent Group LLC now owns 2,295 shares of the company’s stock valued at $566,000 after buying an additional 563 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of DoorDash during the second quarter valued at approximately $90,000. Yeomans Consulting Group Inc. increased its stake in shares of DoorDash by 3.9% during the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock valued at $326,000 after buying an additional 51 shares during the period. Finally, Cromwell Holdings LLC increased its stake in shares of DoorDash by 151.9% during the second quarter. Cromwell Holdings LLC now owns 801 shares of the company’s stock valued at $197,000 after buying an additional 483 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a research note on Saturday, September 27th. Roth Capital boosted their target price on DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Piper Sandler boosted their target price on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Bank of America lifted their price target on DoorDash from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, DA Davidson lifted their price target on DoorDash from $190.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.27.

DoorDash Trading Up 0.4%

DoorDash stock opened at $271.22 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 $255.52 and its two-hundred day simple moving average is $223.92. DoorDash, Inc. has a 12 month low of $141.26 and a 12 month high of $278.15. The company has a market capitalization of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping 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 in the previous year, the company posted ($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 predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.20, for a total value of $8,046,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 34,166 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total value of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at $139,605,508. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,001,417 shares of company stock valued at $249,569,754. Company insiders own 5.83% of the company’s stock.

DoorDash Company 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.