Frank Rimerman Advisors LLC Grows Stock Position in DoorDash, Inc. $DASH

Frank Rimerman Advisors LLC grew its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 81.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,353 shares of the company’s stock after purchasing an additional 1,058 shares during the period. Frank Rimerman Advisors LLC’s holdings in DoorDash were worth $580,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DASH. GFG Capital LLC purchased a new position in shares of DoorDash in the second quarter valued at $30,000. Saudi Central Bank purchased a new stake in DoorDash during the 1st quarter worth $25,000. WPG Advisers LLC acquired a new position in DoorDash in the 1st quarter worth $26,000. Pacific Center for Financial Services purchased a new position in DoorDash in the 1st quarter valued at about $27,000. Finally, Harbour Investments Inc. grew 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 acquiring an additional 70 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Down 4.6%

NASDAQ:DASH opened at $202.32 on Thursday. The company has a market cap of $87.20 billion, a PE ratio of 102.70 and a beta of 1.70. The business’s 50 day moving average is $251.35 and its two-hundred day moving average is $238.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm posted $0.38 earnings per share. DoorDash’s revenue was up 27.3% compared to the same quarter last year. On average, analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DASH shares. Stifel Nicolaus dropped their target price on DoorDash from $255.00 to $253.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Zacks Research lowered DoorDash from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Morgan Stanley lifted their price objective on DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Piper Sandler increased 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. Finally, BTIG Research reissued a “buy” rating and set a $315.00 price target on shares of DoorDash in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $276.94.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 30,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total transaction of $7,299,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of the firm’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 in the company, valued at $224,813,943.54. This represents a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 499,707 shares of company stock valued at $127,140,411. Corporate insiders own 5.83% of the company’s stock.

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.