Parcion Private Wealth LLC Sells 351 Shares of DoorDash, Inc. $DASH

Parcion Private Wealth LLC decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 19.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,441 shares of the company’s stock after selling 351 shares during the period. Parcion Private Wealth LLC’s holdings in DoorDash were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DASH. Saudi Central Bank bought a new position in shares of DoorDash in the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new stake in DoorDash in the 1st quarter worth about $26,000. Pacific Center for Financial Services purchased a new stake in DoorDash in the 1st quarter worth about $27,000. GFG Capital LLC purchased a new position in shares of DoorDash during the second quarter worth approximately $30,000. Finally, Harbour Investments Inc. boosted its stake in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Trading Down 3.7%

NASDAQ:DASH opened at $252.31 on Thursday. DoorDash, Inc. has a 12 month low of $150.26 and a 12 month high of $285.50. The firm has a fifty day simple moving average of $259.41 and a 200-day simple moving average of $231.32. 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 company has a market capitalization of $107.79 billion, a P/E ratio of 140.17 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data 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 net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted ($0.38) earnings per share. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 34,166 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the completion of the transaction, the chief executive officer owned 520,450 shares of the company’s stock, valued at $139,605,508. This trade represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $263.86, for a total transaction of $376,000.50. Following the transaction, the chief financial officer directly owned 214,147 shares of the company’s stock, valued at approximately $56,504,827.42. This trade represents a 0.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 964,530 shares of company stock valued at $241,651,966. Company insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DASH shares. JMP Securities increased their price objective on shares of DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their target price on shares of DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upgraded shares of DoorDash from a “neutral” rating to an “overweight” rating and raised their target price for the company from $175.00 to $325.00 in a research note on Tuesday, October 14th. Piper Sandler raised their target price on shares of DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Oppenheimer raised their target price on shares of DoorDash from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $285.26.

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.