BloombergSen Inc. Buys 534 Shares of DoorDash, Inc. $DASH

BloombergSen Inc. increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,096 shares of the company’s stock after buying an additional 534 shares during the period. DoorDash accounts for about 0.1% of BloombergSen Inc.’s portfolio, making the stock its 24th largest holding. BloombergSen Inc.’s holdings in DoorDash were worth $1,996,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Saudi Central Bank bought a new stake in DoorDash in the 1st quarter valued at about $25,000. WPG Advisers LLC bought a new stake in DoorDash in the 1st quarter valued at about $26,000. Pacific Center for Financial Services bought a new stake in DoorDash in the 1st quarter valued at about $27,000. Harbour Investments Inc. boosted its holdings in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 70 shares during the period. Finally, SouthState Corp boosted its holdings in DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after purchasing an additional 183 shares during the period. Institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $267.64 on Thursday. The company has a market cap of $114.34 billion, a price-to-earnings ratio of 148.69 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a 50 day simple moving average of $254.56 and a 200 day simple moving average of $222.77. DoorDash, Inc. has a one year low of $140.62 and a one year high of $278.15.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.38) EPS. Research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the transaction, the director owned 22,545 shares of the company’s stock, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the transaction, the director directly owned 26,070 shares of the company’s stock, valued at approximately $6,442,157.70. The trade was a 63.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 891,841 shares of company stock worth $220,178,742 in the last 90 days. 5.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DASH. Truist Financial boosted their price objective on shares of DoorDash from $272.00 to $326.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Stifel Nicolaus boosted their price objective on shares of DoorDash from $214.00 to $239.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $325.00 price target (up previously from $275.00) on shares of DoorDash in a report on Thursday, August 7th. Zacks Research raised shares of DoorDash to a “hold” rating in a report on Tuesday, August 12th. Finally, BTIG Research upped their price target on shares of DoorDash from $225.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.42.

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.