West Michigan Advisors LLC Buys Shares of 820 DoorDash, Inc. $DASH

West Michigan Advisors LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 820 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors have also added to or reduced their stakes in DASH. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after buying an additional 8,073,882 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after buying an additional 1,497,636 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after buying an additional 1,416,194 shares in the last quarter. Nuveen LLC bought a new stake in shares of DoorDash in the 1st quarter valued at about $211,415,000. Finally, Deutsche Bank AG boosted its holdings in shares of DoorDash by 111.3% in the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock valued at $367,313,000 after buying an additional 1,058,731 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

DASH has been the subject of a number of recent analyst reports. DA Davidson lifted their target price on shares of DoorDash from $190.00 to $260.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. KeyCorp reissued an “overweight” rating and set a $325.00 price objective (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Wells Fargo & Company dropped their price objective on shares of DoorDash from $306.00 to $301.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. JPMorgan Chase & Co. raised shares of DoorDash from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $325.00 in a report on Tuesday, October 14th. Finally, JMP Securities boosted their price objective on shares of DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $287.79.

DoorDash Price Performance

NASDAQ:DASH opened at $258.15 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $110.28 billion, a price-to-earnings ratio of 143.42 and a beta of 1.71. The company has a 50 day moving average price of $259.75 and a 200-day moving average price of $232.56. DoorDash, Inc. has a 1-year low of $152.26 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) EPS. Equities research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the sale, the director owned 22,545 shares of the company’s stock, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the sale, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 932,156 shares of company stock valued at $233,565,302 in the last quarter. Company 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.