IFP Advisors Inc Raises Position in DoorDash, Inc. $DASH

by · The Cerbat Gem

IFP Advisors Inc raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH – Free Report) by 80.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 917 shares of the company’s stock after acquiring an additional 408 shares during the quarter. IFP Advisors Inc’s holdings in DoorDash were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Saudi Central Bank purchased a new position in shares of DoorDash during the 1st quarter valued at $25,000. WPG Advisers LLC purchased a new position in shares of DoorDash during the 1st quarter valued at $26,000. Pacific Center for Financial Services purchased a new position in shares of DoorDash during the 1st quarter valued at $27,000. GFG Capital LLC purchased a new position in shares of DoorDash during the 2nd quarter valued at $30,000. Finally, Harbour Investments Inc. lifted its stake in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DASH. Oppenheimer lifted their target price on shares of DoorDash from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank Of Canada lifted their price target on shares of DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Loop Capital reiterated a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. BTIG Research lifted their price target on shares of DoorDash from $225.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Finally, Citigroup reiterated an “outperform” rating on shares of DoorDash in a report on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $282.91.

Check Out Our Latest Analysis on DASH

DoorDash Price Performance

DASH stock opened at $263.06 on Friday. DoorDash, Inc. has a 12 month low of $150.26 and a 12 month high of $285.50. 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 company has a 50-day moving average price of $259.31 and a 200 day moving average price of $229.57. The stock has a market cap of $112.38 billion, a PE ratio of 146.15 and a beta of 1.71.

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

Insider Activity

In related news, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares of the company’s stock, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at approximately $224,813,943.54. This represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 993,105 shares of company stock valued at $248,566,566 in the last quarter. 5.83% of the stock is currently owned by company insiders.

About DoorDash

(Free Report)

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.

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