Rehmann Capital Advisory Group Invests $254,000 in DoorDash, Inc. $DASH

Rehmann Capital Advisory Group bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,029 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC raised its holdings in shares of DoorDash by 1.3% during the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock worth $912,000 after purchasing an additional 46 shares during the period. Yeomans Consulting Group Inc. raised its holdings in shares of DoorDash by 3.9% during the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock worth $326,000 after purchasing an additional 51 shares during the period. Palo Alto Wealth Advisors LLC raised its holdings in shares of DoorDash by 0.4% during the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company’s stock worth $2,385,000 after purchasing an additional 54 shares during the period. LVW Advisors LLC raised its holdings in shares of DoorDash by 4.5% during the second quarter. LVW Advisors LLC now owns 1,563 shares of the company’s stock worth $385,000 after purchasing an additional 68 shares during the period. Finally, SageView Advisory Group LLC raised its holdings in shares of DoorDash by 5.1% during the first quarter. SageView Advisory Group LLC now owns 1,435 shares of the company’s stock worth $262,000 after purchasing an additional 69 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on DASH. Benchmark increased their target price on shares of DoorDash from $260.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wells Fargo & Company dropped their target price on shares of DoorDash from $306.00 to $301.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. Stifel Nicolaus increased their target price on shares of DoorDash from $214.00 to $239.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on shares of DoorDash from $230.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Piper Sandler increased their price objective on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $287.79.

DoorDash Stock Up 1.4%

DASH stock opened at $258.15 on Friday. The firm’s 50-day simple moving average is $259.75 and its 200 day simple moving average is $232.56. The stock has a market cap of $110.28 billion, a PE ratio of 143.42 and a beta of 1.71. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a fifty-two week low of $152.26 and a fifty-two week high of $285.50.

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

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated 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 in the company, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated 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 owned 26,070 shares of the company’s stock, valued at $6,442,157.70. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 932,156 shares of company stock worth $233,565,302. 5.83% of the stock is currently owned by corporate insiders.

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.