City Center Advisors LLC Invests $440,000 in DoorDash, Inc. $DASH

City Center Advisors LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,783 shares of the company’s stock, valued at approximately $440,000.

A number of other hedge funds also recently bought and sold shares of the business. Saudi Central Bank bought a new stake in DoorDash during the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in DoorDash in the 1st quarter valued at approximately $26,000. Pacific Center for Financial Services bought a new position in DoorDash in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. raised its stake in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after buying an additional 70 shares during the last quarter. Finally, SouthState Corp raised its stake in DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total transaction of $7,299,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total transaction of $11,048,707.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,019,042 shares of company stock worth $248,122,219. 5.83% of the stock is currently owned by company insiders.

DoorDash Trading Down 0.8%

NASDAQ DASH opened at $257.98 on Friday. DoorDash, Inc. has a 1 year low of $126.90 and a 1 year high of $278.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The company has a fifty day moving average of $248.21 and a 200 day moving average of $215.94. The company has a market capitalization of $110.21 billion, a PE ratio of 143.32 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.38) earnings per share. Research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DASH. Evercore ISI restated an “outperform” rating and issued a $360.00 price objective (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Royal Bank Of Canada increased their price objective on shares of DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Susquehanna increased their price objective on shares of DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a report on Monday, August 11th. Jefferies Financial Group increased their price target on shares of DoorDash from $250.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 11th. Finally, JMP Securities increased their price objective on shares of DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.71.

About DoorDash

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.