Palo Alto Wealth Advisors LLC Acquires New Position in DoorDash, Inc. (NASDAQ:DASH)

Palo Alto Wealth Advisors LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,000 shares of the company’s stock, valued at approximately $1,835,000. DoorDash makes up about 0.8% of Palo Alto Wealth Advisors LLC’s investment portfolio, making the stock its 17th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in DASH. Janus Henderson Group PLC grew its stake in shares of DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after acquiring an additional 3,425,115 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC grew its stake in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares during the period. Canada Pension Plan Investment Board increased its holdings in DoorDash by 595.2% in the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after buying an additional 763,579 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after purchasing an additional 739,961 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on DASH. Susquehanna lifted their price objective on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a research report on Wednesday, September 25th. Raymond James began coverage on DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price for the company. JPMorgan Chase & Co. lifted their price target on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, DA Davidson lifted their target price on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $164.03.

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the transaction, the chief financial officer now owns 396,152 shares of the company’s stock, valued at $50,651,994.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock worth $46,439,330 over the last ninety days. 7.92% of the stock is currently owned by company insiders.

DoorDash Stock Performance

Shares of NASDAQ DASH traded up $0.42 during trading on Thursday, hitting $176.18. The company had a trading volume of 326,369 shares, compared to its average volume of 3,806,685. DoorDash, Inc. has a 52 week low of $92.56 and a 52 week high of $178.16. The business’s 50-day moving average is $147.14 and its 200 day moving average is $126.41. The company has a market cap of $73.19 billion, a P/E ratio of -390.58, a PEG ratio of 14.85 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. DoorDash’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.19) earnings per share. On average, research analysts expect that DoorDash, Inc. will post 0.24 EPS for the current 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.