OMNI 360 Wealth Inc. Boosts Stock Position in DoorDash, Inc. $DASH

OMNI 360 Wealth Inc. grew its position in DoorDash, Inc. (NASDAQ:DASH) by 42.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,032 shares of the company’s stock after acquiring an additional 605 shares during the quarter. OMNI 360 Wealth Inc.’s holdings in DoorDash were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Saudi Central Bank bought a new stake in shares of DoorDash in the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new stake in shares of DoorDash in the 1st quarter valued at approximately $26,000. Pacific Center for Financial Services bought a new stake in shares of DoorDash in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. increased its holdings in shares of DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares during the last quarter. Finally, SouthState Corp increased its holdings in shares of DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after acquiring an additional 183 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 291,403 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the sale, the chief executive officer owned 229,047 shares of the company’s stock, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the sale, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,019,042 shares of company stock worth $248,122,219. Insiders own 5.83% of the company’s stock.

DoorDash Trading Down 0.8%

Shares of DASH stock opened at $257.98 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 1 year low of $126.90 and a 1 year high of $278.15. The stock has a fifty day moving average of $248.21 and a two-hundred day moving average of $216.06. The firm has a market capitalization of $110.21 billion, a PE ratio of 143.32 and a beta of 1.70.

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

Analyst Ratings Changes

DASH has been the subject of a number of research analyst reports. Wedbush reiterated a “neutral” rating on shares of DoorDash in a report on Friday, August 8th. Truist Financial boosted their price objective on DoorDash from $272.00 to $326.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Oppenheimer boosted their price objective on DoorDash from $280.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Sanford C. Bernstein boosted their price objective on DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Finally, Morgan Stanley boosted their price objective on DoorDash from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target 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.