Angeles Wealth Management LLC Raises Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Angeles Wealth Management LLC lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 6.8% in the 1st quarter, HoldingsChannel reports. The firm owned 2,022 shares of the company’s stock after buying an additional 128 shares during the quarter. Angeles Wealth Management LLC’s holdings in DoorDash were worth $370,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of DASH. Mediolanum International Funds Ltd lifted its holdings in DoorDash by 32.2% in the first quarter. Mediolanum International Funds Ltd now owns 59,615 shares of the company’s stock worth $10,886,000 after buying an additional 14,521 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of DoorDash by 39.0% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 118,574 shares of the company’s stock worth $21,672,000 after acquiring an additional 33,299 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of DoorDash by 86.2% in the 1st quarter. Pacer Advisors Inc. now owns 36,892 shares of the company’s stock valued at $6,743,000 after purchasing an additional 17,078 shares during the period. Assetmark Inc. lifted its stake in shares of DoorDash by 12.1% in the 1st quarter. Assetmark Inc. now owns 9,856 shares of the company’s stock valued at $1,801,000 after purchasing an additional 1,063 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of DoorDash by 34.8% during the first quarter. Cetera Investment Advisers now owns 18,197 shares of the company’s stock valued at $3,326,000 after purchasing an additional 4,699 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares in the company, valued at approximately $6,274,788.30. The trade was 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 the SEC website. Also, CEO Tony Xu sold 44,244 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the transaction, the chief executive officer owned 520,450 shares in the company, valued at $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 441,773 shares of company stock valued at $98,711,043 in the last 90 days. 5.83% of the stock is owned by insiders.

DoorDash Price Performance

DASH stock opened at $249.92 on Friday. DoorDash, Inc. has a 1 year low of $102.81 and a 1 year high of $250.23. The company has a market cap of $105.90 billion, a P/E ratio of 324.58 and a beta of 1.70. The stock’s fifty day moving average price is $226.30 and its 200-day moving average price is $201.03.

DoorDash (NASDAQ:DASH) last posted 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. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. As a group, analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on DASH shares. Jefferies Financial Group reissued a “hold” rating and set a $250.00 price objective (up previously from $235.00) on shares of DoorDash in a research report on Tuesday, July 15th. Loop Capital reissued a “buy” rating on shares of DoorDash in a research report on Tuesday, July 15th. BTIG Research upped their price objective on shares of DoorDash from $225.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Stifel Nicolaus set a $198.00 target price on shares of DoorDash and gave the company a “hold” rating in a research note on Tuesday, June 10th. Finally, Benchmark boosted their price target on DoorDash from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $232.12.

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.