Ritholtz Wealth Management Acquires 1,323 Shares of DoorDash, Inc. $DASH

Ritholtz Wealth Management lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 100.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,637 shares of the company’s stock after buying an additional 1,323 shares during the quarter. Ritholtz Wealth Management’s holdings in DoorDash were worth $650,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in DoorDash by 24.0% during 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 last quarter. GAMMA Investing LLC raised its holdings in DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company’s stock worth $351,000 after purchasing an additional 794 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in DoorDash by 12.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 43,817 shares of the company’s stock worth $8,008,000 after purchasing an additional 4,827 shares during the last quarter. Sowell Financial Services LLC bought a new stake in DoorDash during the 1st quarter worth about $222,000. Finally, Blue Trust Inc. raised its holdings in DoorDash by 418.3% during the 1st quarter. Blue Trust Inc. now owns 2,633 shares of the company’s stock worth $481,000 after purchasing an additional 2,125 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on DASH. Zacks Research raised DoorDash from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Piper Sandler boosted their price objective on DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Loop Capital reissued a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. Wall Street Zen upgraded DoorDash from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Finally, Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a research note on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $282.91.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total transaction of $12,180,324.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 993,105 shares of company stock worth $248,566,566 in the last quarter. Company insiders own 5.83% of the company’s stock.

DoorDash Price Performance

NASDAQ DASH opened at $263.06 on Friday. The business has a 50 day simple moving average of $259.31 and a 200 day simple moving average of $229.85. DoorDash, Inc. has a 52-week low of $150.26 and a 52-week high of $285.50. 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 has a market cap of $112.38 billion, a price-to-earnings ratio of 146.15 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last posted 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 during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the business earned ($0.38) EPS. DoorDash’s revenue for the quarter was up 24.9% compared to the same quarter last year. Analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.