Allegiance Financial Group Advisory Services LLC Increases Holdings in DoorDash, Inc. $DASH

Allegiance Financial Group Advisory Services LLC lifted its position in DoorDash, Inc. (NASDAQ:DASH) by 16.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,277 shares of the company’s stock after purchasing an additional 317 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in DoorDash were worth $561,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Saudi Central Bank purchased a new stake in shares of DoorDash in the first quarter valued at approximately $25,000. WPG Advisers LLC purchased a new stake in shares of DoorDash in the first quarter valued at approximately $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash in the first quarter valued at approximately $27,000. Harbour Investments Inc. lifted its holdings in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after buying an additional 70 shares during the period. Finally, SouthState Corp lifted its holdings in DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company’s stock worth $38,000 after buying an additional 183 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $281.05 on Thursday. The business’s fifty day simple moving average is $257.55 and its 200-day simple moving average is $225.75. The company has a market cap of $120.06 billion, a PE ratio of 156.14 and a beta of 1.71. 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, Inc. has a 12-month low of $141.76 and a 12-month high of $285.08.

DoorDash (NASDAQ:DASH) last issued 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. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) earnings per share. Analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’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 transaction, the director directly owned 22,545 shares of the company’s stock, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,001,054 shares of company stock valued at $249,511,188 in the last quarter. Insiders own 5.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DASH shares. Evercore ISI restated an “outperform” rating and set a $360.00 target price (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. Sanford C. Bernstein upped their target price on DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Truist Financial upped their target price on DoorDash from $272.00 to $326.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Jefferies Financial Group upped their target price on DoorDash from $250.00 to $265.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Finally, Oppenheimer upped their target price on DoorDash from $280.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $275.27.

DoorDash Company 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.