Whalen Wealth Management Inc. Purchases New Stake in DoorDash, Inc. $DASH

Whalen Wealth Management Inc. purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,235 shares of the company’s stock, valued at approximately $551,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DASH. Saudi Central Bank bought a new position in DoorDash in the first quarter valued at about $25,000. WPG Advisers LLC bought a new position in DoorDash in the first quarter valued at about $26,000. Pacific Center for Financial Services bought a new position in DoorDash in the first quarter valued at about $27,000. GFG Capital LLC bought a new position in DoorDash in the second quarter valued at about $30,000. Finally, Harbour Investments Inc. grew its position in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insiders Place Their Bets

In related news, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $277.47, for a total value of $346,837.50. Following the sale, the director directly owned 37,252 shares in the company, valued at $10,336,312.44. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 34,166 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total value of $9,164,687.84. Following the completion of the sale, the chief executive officer owned 520,450 shares in the company, valued at $139,605,508. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 928,114 shares of company stock valued at $232,553,670 over the last three months. Insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the topic of a number of recent analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $360.00 target price (up previously from $240.00) on shares of DoorDash in a research report on Friday, August 8th. UBS Group lifted their target price on DoorDash from $280.00 to $316.00 and gave the company a “neutral” rating in a research report on Tuesday. Susquehanna lifted their target price on DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a research report on Monday, August 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research report on Wednesday, October 8th. Finally, Piper Sandler lifted their target price on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $291.88.

DoorDash Stock Performance

NASDAQ:DASH opened at $261.42 on Wednesday. The stock has a market cap of $111.68 billion, a P/E ratio of 145.23 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. The stock’s 50-day moving average is $260.22 and its 200-day moving average is $234.44. DoorDash, Inc. has a 1-year low of $152.26 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 9.56% and a net margin of 6.57%.The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.38) earnings per share. Equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.