Bleakley Financial Group LLC Raises Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Bleakley Financial Group LLC increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 47.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,324 shares of the company’s stock after purchasing an additional 2,351 shares during the period. Bleakley Financial Group LLC’s holdings in DoorDash were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new position in DoorDash in the second quarter valued at $32,000. Versant Capital Management Inc increased its holdings in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares in the last quarter. ORG Partners LLC increased its holdings in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

DoorDash stock opened at $151.98 on Monday. The company’s 50 day simple moving average is $135.26 and its 200-day simple moving average is $122.85. The company has a market capitalization of $62.15 billion, a price-to-earnings ratio of -140.72, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $152.52.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm posted ($0.44) earnings per share. Equities analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the transaction, the director now directly owns 65,186 shares of the company’s stock, valued at $7,822,320. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 390,710 shares of company stock valued at $54,472,120. Company insiders own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DASH. DA Davidson lifted their price objective on shares of DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Piper Sandler reiterated a “neutral” rating and issued a $125.00 target price (up previously from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. Barclays lifted their target price on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. Finally, Morgan Stanley lifted their target price on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.16.

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.