Sincerus Advisory LLC Invests $316,000 in DoorDash, Inc. $DASH

Sincerus Advisory LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,265 shares of the company’s stock, valued at approximately $316,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after acquiring an additional 641,601 shares during the period. Invesco Ltd. grew its holdings in shares of DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the last quarter. Northern Trust Corp raised its position in shares of DoorDash by 38.2% during the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock worth $604,829,000 after purchasing an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company’s stock worth $576,089,000 after purchasing an additional 842,637 shares during the period. Institutional investors own 90.64% of the company’s stock.

DoorDash Trading Up 0.8%

DoorDash stock opened at $272.61 on Thursday. DoorDash, Inc. has a 12-month low of $147.31 and a 12-month high of $285.08. 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 stock has a market capitalization of $116.46 billion, a PE ratio of 151.45 and a beta of 1.71. The firm has a 50 day simple moving average of $259.32 and a 200-day simple moving average of $228.44.

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

Insiders Place Their Bets

In related news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total transaction of $12,180,324.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Prabir Adarkar sold 30,000 shares of DoorDash stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total value of $8,118,000.00. Following the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at approximately $247,476,418.20. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 968,137 shares of company stock valued at $241,767,280. 5.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upgraded DoorDash from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $325.00 in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $330.00 price objective on shares of DoorDash in a report on Wednesday, September 17th. Citigroup reissued an “outperform” rating on shares of DoorDash in a research note on Thursday, August 7th. KeyCorp restated an “overweight” rating and issued a $325.00 target price (up previously from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $281.29.

DoorDash 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.