Atlatl Advisers LLC Takes Position in DoorDash, Inc. $DASH

Atlatl Advisers LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,241 shares of the company’s stock, valued at approximately $1,785,000. DoorDash makes up about 0.8% of Atlatl Advisers LLC’s holdings, making the stock its 29th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. lifted its position in shares of DoorDash by 42.2% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 25,157 shares of the company’s stock valued at $6,201,000 after buying an additional 7,461 shares in the last quarter. Conservest Capital Advisors Inc. purchased a new position in shares of DoorDash during the 2nd quarter valued at approximately $285,000. Interchange Capital Partners LLC lifted its position in shares of DoorDash by 9.7% during the 2nd quarter. Interchange Capital Partners LLC now owns 2,062 shares of the company’s stock valued at $508,000 after buying an additional 183 shares in the last quarter. Brighton Jones LLC lifted its position in shares of DoorDash by 76.1% during the 2nd quarter. Brighton Jones LLC now owns 17,309 shares of the company’s stock valued at $4,267,000 after buying an additional 7,480 shares in the last quarter. Finally, CVA Family Office LLC lifted its position in shares of DoorDash by 22.1% during the 2nd quarter. CVA Family Office LLC now owns 945 shares of the company’s stock valued at $233,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DASH shares. Barclays started coverage on DoorDash in a report on Friday. They issued an “equal weight” rating and a $272.00 price objective on the stock. Piper Sandler raised their price objective on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. BMO Capital Markets raised their price objective on DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Jefferies Financial Group raised their price objective on DoorDash from $265.00 to $280.00 and gave the company a “hold” rating in a report on Friday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $330.00 price objective on shares of DoorDash in a report on Wednesday, September 17th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $287.79.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares of the company’s stock, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 932,156 shares of company stock valued at $233,565,302. 5.83% of the stock is owned by insiders.

DoorDash Stock Up 1.4%

Shares of NASDAQ:DASH opened at $258.15 on Friday. The business has a 50-day moving average price of $259.75 and a 200 day moving average price of $233.03. 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 $110.28 billion, a price-to-earnings ratio of 143.42 and a beta of 1.71. DoorDash, Inc. has a 12-month low of $152.26 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data 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. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period last year, the company earned ($0.38) EPS. Sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

About DoorDash

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.