Wallace Hart LLC Invests $1.15 Million in DoorDash, Inc. $DASH

Wallace Hart LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the third quarter, Holdings Channel reports. The firm purchased 4,231 shares of the company’s stock, valued at approximately $1,151,000. DoorDash accounts for 0.8% of Wallace Hart LLC’s holdings, making the stock its 21st largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of DoorDash in the 2nd quarter worth $1,185,576,000. Vanguard Group Inc. raised its holdings in shares of DoorDash by 4.6% in the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock valued at $10,153,768,000 after acquiring an additional 1,792,799 shares in the last quarter. Scge Management L.P. purchased a new stake in DoorDash in the second quarter worth about $267,463,000. Ninety One UK Ltd purchased a new stake in DoorDash in the third quarter worth about $259,154,000. Finally, AQR Capital Management LLC grew its holdings in DoorDash by 43.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,633,971 shares of the company’s stock worth $643,084,000 after acquiring an additional 797,849 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $204.59, for a total transaction of $3,068,850.00. Following the completion of the transaction, the chief operating officer directly owned 874,130 shares in the company, valued at $178,838,256.70. The trade was a 1.69% 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, CFO Ravi Inukonda sold 1,017 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $215.14, for a total transaction of $218,797.38. Following the completion of the sale, the chief financial officer directly owned 208,412 shares in the company, valued at approximately $44,837,757.68. The trade was a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 557,412 shares of company stock worth $114,778,269. Corporate insiders own 5.83% of the company’s stock.

DoorDash Stock Up 1.5%

Shares of DASH stock opened at $207.67 on Tuesday. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The firm has a market capitalization of $89.51 billion, a PE ratio of 105.42 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The stock’s 50-day simple moving average is $218.14 and its 200-day simple moving average is $237.82.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. Equities analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on DASH. Jefferies Financial Group upped their price target on shares of DoorDash from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Morgan Stanley raised their price objective on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Argus reduced their target price on shares of DoorDash from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, December 12th. JPMorgan Chase & Co. reduced their price objective on shares of DoorDash from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Susquehanna cut their price target on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $279.09.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.