HighTower Advisors LLC Buys 944 Shares of DoorDash, Inc. (NASDAQ:DASH)

HighTower Advisors LLC raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,538 shares of the company’s stock after acquiring an additional 944 shares during the quarter. HighTower Advisors LLC’s holdings in DoorDash were worth $3,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DASH. Brighton Jones LLC boosted its position in shares of DoorDash by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after purchasing an additional 82 shares in the last quarter. Everhart Financial Group Inc. raised its stake in DoorDash by 3.1% in the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after acquiring an additional 99 shares during the last quarter. E Fund Management Co. Ltd. raised its stake in DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after acquiring an additional 111 shares during the last quarter. Venturi Wealth Management LLC raised its stake in DoorDash by 39.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after acquiring an additional 119 shares during the last quarter. Finally, Rakuten Securities Inc. raised its stake in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stanley Tang sold 1,855 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $315,312.90. Following the completion of the transaction, the director now owns 35,413 shares in the company, valued at $6,019,501.74. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 793,196 shares of company stock worth $131,015,818 in the last ninety days. Insiders own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group raised their target price on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Mizuho raised their target price on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, September 19th. Jefferies Financial Group lifted their price objective on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Susquehanna lifted their price objective on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $167.27.

DoorDash Trading Down 0.2 %

DASH stock opened at $176.02 on Friday. DoorDash, Inc. has a 12-month low of $93.33 and a 12-month high of $181.30. The stock has a market cap of $73.12 billion, a price-to-earnings ratio of -391.16, a PEG ratio of 14.09 and a beta of 1.70. The business’s 50-day moving average is $164.21 and its 200 day moving average is $134.97.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

About DoorDash

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.