Transcend Capital Advisors LLC Purchases New Holdings in DoorDash, Inc. $DASH

Transcend Capital Advisors LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,969 shares of the company’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Perigon Wealth Management LLC increased its holdings in shares of DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock valued at $912,000 after purchasing an additional 46 shares in the last quarter. Yeomans Consulting Group Inc. increased its holdings in shares of DoorDash by 3.9% in the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock valued at $326,000 after purchasing an additional 51 shares in the last quarter. Palo Alto Wealth Advisors LLC boosted its stake in DoorDash by 0.4% in the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company’s stock valued at $2,385,000 after acquiring an additional 54 shares during the last quarter. LVW Advisors LLC boosted its stake in DoorDash by 4.5% in the second quarter. LVW Advisors LLC now owns 1,563 shares of the company’s stock valued at $385,000 after acquiring an additional 68 shares during the last quarter. Finally, SageView Advisory Group LLC boosted its stake in DoorDash by 5.1% in the first quarter. SageView Advisory Group LLC now owns 1,435 shares of the company’s stock valued at $262,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DASH shares. BMO Capital Markets raised their price objective on shares of DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. UBS Group raised their price objective on shares of DoorDash from $280.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday. Susquehanna raised their price objective on shares of DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a research note on Monday, August 11th. Piper Sandler raised their price objective on shares of DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised shares of DoorDash from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $325.00 in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.88.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $263.86, for a total value of $376,000.50. Following the sale, the chief financial officer directly owned 214,147 shares of the company’s stock, valued at approximately $56,504,827.42. The trade was a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 34,166 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at $139,605,508. This represents a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 928,114 shares of company stock worth $232,553,670 in the last ninety days. 5.83% of the stock is owned by insiders.

DoorDash Trading Up 1.8%

Shares of NASDAQ DASH opened at $266.06 on Thursday. The company’s fifty day moving average is $260.66 and its 200-day moving average is $235.04. The stock has a market cap of $113.66 billion, a price-to-earnings ratio of 147.81 and a beta of 1.71. DoorDash, Inc. has a twelve month low of $152.26 and a twelve month high of $285.50. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last announced its quarterly 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. The company had revenue of $3.28 billion for 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 business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.38) earnings per share. Equities research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

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.