Wealth Enhancement Advisory Services LLC Decreases Position in DoorDash, Inc. $DASH

Wealth Enhancement Advisory Services LLC lowered its stake in DoorDash, Inc. (NASDAQ:DASH) by 40.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,777 shares of the company’s stock after selling 23,980 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in DoorDash were worth $7,980,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its stake in shares of DoorDash by 5.0% during the third quarter. American Century Companies Inc. now owns 485,088 shares of the company’s stock valued at $131,941,000 after acquiring an additional 22,944 shares in the last quarter. Caprock Group LLC acquired a new position in shares of DoorDash in the third quarter worth about $3,169,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of DoorDash by 7.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company’s stock worth $219,276,000 after acquiring an additional 53,722 shares in the last quarter. Williamson Legacy Group LLC purchased a new position in DoorDash in the second quarter valued at about $1,264,000. Finally, Brighton Jones LLC boosted its holdings in 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 purchasing an additional 1,807 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $146.60 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $63.69 billion, a price-to-earnings ratio of 69.15 and a beta of 1.82. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The business has a 50 day simple moving average of $178.64 and a 200-day simple moving average of $216.74.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.10). The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.98 billion. DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. As a group, equities research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 16,667 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $230.00, for a total transaction of $3,833,410.00. Following the completion of the sale, the chief executive officer owned 1,500 shares of the company’s stock, valued at $345,000. This represents a 91.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 10,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $158.97, for a total transaction of $1,589,700.00. Following the sale, the chief operating officer directly owned 843,678 shares of the company’s stock, valued at approximately $134,119,491.66. This represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 167,317 shares of company stock valued at $35,720,931 in the last ninety days. 5.83% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on DASH shares. Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. Roth Mkm reissued a “neutral” rating and set a $200.00 price target on shares of DoorDash in a research report on Thursday, February 19th. Evercore set a $300.00 price target on shares of DoorDash in a research note on Thursday, February 19th. Mizuho cut their price target on shares of DoorDash from $320.00 to $255.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Finally, Truist Financial raised their price objective on shares of DoorDash from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $263.82.

DoorDash 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.