Apollon Wealth Management LLC Has $635,000 Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Apollon Wealth Management LLC lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 42.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,472 shares of the company’s stock after purchasing an additional 1,035 shares during the quarter. Apollon Wealth Management LLC’s holdings in DoorDash were worth $635,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Signaturefd LLC raised its holdings in shares of DoorDash by 10.1% during the 1st quarter. Signaturefd LLC now owns 5,532 shares of the company’s stock worth $1,011,000 after buying an additional 506 shares in the last quarter. Securian Asset Management Inc. acquired a new position in DoorDash in the 1st quarter worth about $3,284,000. CWM LLC grew its position in shares of DoorDash by 190.6% in the 1st quarter. CWM LLC now owns 40,435 shares of the company’s stock valued at $7,390,000 after buying an additional 26,520 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of DoorDash by 65.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 47,000 shares of the company’s stock valued at $8,590,000 after buying an additional 18,600 shares during the last quarter. Finally, Emerald Advisers LLC grew its position in shares of DoorDash by 155.8% in the 1st quarter. Emerald Advisers LLC now owns 5,466 shares of the company’s stock valued at $999,000 after buying an additional 3,329 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

NASDAQ:DASH opened at $239.17 on Friday. The stock has a fifty day moving average of $221.73 and a 200 day moving average of $198.38. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $248.74. The firm has a market capitalization of $101.35 billion, a price-to-earnings ratio of 310.61 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the company posted ($0.06) EPS. DoorDash’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the transaction, the director owned 26,070 shares of the company’s stock, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Prabir Adarkar sold 62,267 shares of DoorDash stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the transaction, the chief operating officer directly owned 942,554 shares of the company’s stock, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 463,198 shares of company stock worth $102,674,831 in the last quarter. 5.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley cut their target price on DoorDash from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus set a $198.00 price objective on DoorDash and gave the stock a “hold” rating in a research note on Tuesday, June 10th. Wall Street Zen downgraded DoorDash from a “buy” rating to a “hold” rating in a research report on Friday. FBN Securities started coverage on DoorDash in a research report on Friday, March 28th. They set an “outperform” rating and a $230.00 price target for the company. Finally, BTIG Research increased their price objective on DoorDash from $225.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.97.

DoorDash Profile

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.