Wallace Hart LLC Invests $1.15 Million in DoorDash, Inc. $DASH

Wallace Hart LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,231 shares of the company’s stock, valued at approximately $1,151,000. DoorDash makes up approximately 0.8% of Wallace Hart LLC’s holdings, making the stock its 21st biggest position.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in DoorDash by 21.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock valued at $314,000 after purchasing an additional 303 shares during the period. Empowered Funds LLC raised its stake in DoorDash by 3.6% during the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock valued at $1,486,000 after purchasing an additional 285 shares during the period. Sivia Capital Partners LLC lifted its holdings in DoorDash by 92.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock worth $1,049,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in DoorDash by 91.2% in the 2nd quarter. Truist Financial Corp now owns 16,867 shares of the company’s stock worth $4,158,000 after purchasing an additional 8,047 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DoorDash stock opened at $207.67 on Tuesday. DoorDash, Inc. has a 12-month low of $155.40 and a 12-month high of $285.50. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $218.14 and a 200-day moving average price of $237.82. The firm has a market capitalization of $89.51 billion, a PE ratio of 105.42 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data 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 return on equity of 9.97% and a net margin of 6.83%.The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DASH. Exane BNP Paribas upgraded shares of DoorDash to a “strong-buy” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada reduced their price target on shares of DoorDash from $300.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Wells Fargo & Company increased their price objective on shares of DoorDash from $239.00 to $251.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. Benchmark lifted their target price on DoorDash from $315.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, BNP Paribas Exane assumed coverage on DoorDash in a research report on Wednesday, January 14th. They issued an “outperform” rating and a $280.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.09.

Insider Activity

In related news, COO Prabir Adarkar sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $204.59, for a total transaction of $3,068,850.00. Following the completion of the transaction, the chief operating officer owned 874,130 shares in the company, valued at $178,838,256.70. The trade was a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 1,017 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $215.14, for a total value of $218,797.38. Following the completion of the transaction, the chief financial officer directly owned 208,412 shares in the company, valued at $44,837,757.68. This trade represents a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 557,412 shares of company stock worth $114,778,269 in the last three months. Corporate insiders own 5.83% of the company’s stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.