Sage Mountain Advisors LLC Increases Stake in DoorDash, Inc. $DASH

Sage Mountain Advisors LLC grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 33.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,621 shares of the company’s stock after purchasing an additional 406 shares during the quarter. Sage Mountain Advisors LLC’s holdings in DoorDash were worth $400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after purchasing an additional 641,601 shares during the last quarter. Invesco Ltd. increased its holdings in shares of DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after purchasing an additional 1,416,194 shares during the last quarter. Northern Trust Corp lifted its position in shares of DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock worth $604,829,000 after buying an additional 915,512 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in DoorDash by 36.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company’s stock valued at $576,089,000 after buying an additional 842,637 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $258.15 on Friday. The stock has a market cap of $110.28 billion, a PE ratio of 143.42 and a beta of 1.71. DoorDash, Inc. has a 12 month low of $152.26 and a 12 month high of $285.50. The company has a 50-day moving average price of $259.75 and a 200 day moving average price of $233.03. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) earnings per share. Equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DASH. BMO Capital Markets upped their price objective on DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price target on shares of DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $330.00 price objective on shares of DoorDash in a research note on Wednesday, September 17th. Piper Sandler boosted their target price on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $287.79.

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the sale, the director owned 26,070 shares in the company, valued at $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 291,403 shares of DoorDash 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. This trade represents a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 932,156 shares of company stock worth $233,565,302 in the last 90 days. 5.83% of the stock is owned by insiders.

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.