Focus Partners Wealth Grows Holdings in DoorDash, Inc. $DASH

Focus Partners Wealth increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 243,545 shares of the company’s stock after buying an additional 23,979 shares during the period. Focus Partners Wealth owned about 0.06% of DoorDash worth $55,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of DoorDash in the 4th quarter worth about $1,093,650,000. Alyeska Investment Group L.P. bought a new stake in shares of DoorDash in the 4th quarter worth about $372,128,000. Vanguard Group Inc. increased its position in shares of DoorDash by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after purchasing an additional 1,522,823 shares during the last quarter. Scge Management L.P. bought a new stake in shares of DoorDash in the 2nd quarter worth about $267,463,000. Finally, Invesco Ltd. increased its position in shares of DoorDash by 18.2% in the 3rd quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after purchasing an additional 980,148 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the subject of several research analyst reports. DA Davidson dropped their target price on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Piper Sandler dropped their target price on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Guggenheim dropped their target price on shares of DoorDash from $275.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, UBS Group lifted their price target on shares of DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.11.

Insider Activity at DoorDash

In other news, General Counsel Tia Sherringham sold 2,743 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the sale, the general counsel directly owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the sale, the director directly owned 19,279 shares of the company’s stock, valued at approximately $2,891,850. This represents a 52.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 68,558 shares of company stock valued at $10,914,640. 5.83% of the stock is currently owned by insiders.

DoorDash Trading Up 11.6%

NASDAQ DASH opened at $168.09 on Tuesday. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a 50-day simple moving average of $162.97 and a 200-day simple moving average of $183.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $73.24 billion, a PE ratio of 80.04 and a beta of 1.83.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. On average, equities analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current year.

DoorDash Company Profile

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.