DoorDash, Inc. $DASH Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 54.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 171 shares of the company’s stock after selling 205 shares during the period. Raleigh Capital Management Inc.’s holdings in DoorDash were worth $42,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Saudi Central Bank purchased a new position in shares of DoorDash in the first quarter valued at $25,000. WPG Advisers LLC acquired a new position in DoorDash in the 1st quarter worth $26,000. Pacific Center for Financial Services purchased a new position in DoorDash in the 1st quarter valued at about $27,000. Harbour Investments Inc. boosted its position in 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 buying an additional 70 shares during the last quarter. Finally, SouthState Corp grew its stake in shares of DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

DoorDash stock opened at $271.99 on Wednesday. The company has a market cap of $116.19 billion, a PE ratio of 151.11 and a beta of 1.70. The company has a fifty day moving average price of $254.02 and a two-hundred day moving average price of $222.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 12 month low of $140.53 and a 12 month high of $278.15.

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

Analysts Set New Price Targets

A number of brokerages recently commented on DASH. Piper Sandler increased their price target on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Wall Street Zen lowered DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Wedbush reissued a “neutral” rating on shares of DoorDash in a research report on Friday, August 8th. Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a report on Thursday, August 7th. Finally, Morgan Stanley increased their price objective on shares of DoorDash from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.42.

Insider Activity

In other news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $266.16, for a total transaction of $379,278.00. Following the sale, the chief financial officer directly owned 214,772 shares in the company, valued at approximately $57,163,715.52. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $243.32, for a total value of $7,299,600.00. The disclosure for this sale can be found here. Insiders have sold 861,841 shares of company stock valued at $212,060,742 over the last quarter. Corporate insiders own 5.83% of the company’s stock.

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.