Integrated Wealth Concepts LLC Has $20.40 Million Stake in DoorDash, Inc. $DASH

Integrated Wealth Concepts LLC raised its position in DoorDash, Inc. (NASDAQ:DASH) by 4,852.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,539 shares of the company’s stock after buying an additional 108,307 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in DoorDash were worth $20,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of DoorDash by 16,825.6% during the 2nd quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company’s stock worth $19,101,838,000 after acquiring an additional 102,904,566 shares in the last quarter. Norges Bank acquired a new position in DoorDash during the fourth quarter valued at approximately $1,093,650,000. Wellington Management Group LLP lifted its stake in DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of DoorDash by 40.2% in the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after purchasing an additional 2,225,954 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Prabir Adarkar sold 55,289 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the completion of the transaction, the chief operating officer directly owned 930,211 shares of the company’s stock, valued at $215,585,701.36. This trade represents a 5.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Tony Xu sold 3,767 shares of DoorDash stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $230.00, for a total value of $866,410.00. Following the transaction, the chief executive officer directly owned 1,500 shares in the company, valued at $345,000. The trade was a 71.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 399,553 shares of company stock valued at $87,034,140 over the last quarter. 44.90% of the stock is currently owned by company insiders.

DoorDash Stock Down 1.6%

NASDAQ:DASH opened at $197.24 on Thursday. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $85.46 billion, a PE ratio of 103.27 and a beta of 1.79. The firm’s 50 day simple moving average is $204.83 and its 200 day simple moving average is $179.36.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company’s revenue was up 35.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. On average, research analysts anticipate that DoorDash, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Argus set a $190.00 price target on DoorDash in a research note on Thursday, June 11th. Guggenheim restated a “buy” rating and set a $255.00 price objective on shares of DoorDash in a research report on Tuesday, June 23rd. BTIG Research reaffirmed a “buy” rating and issued a $225.00 price objective on shares of DoorDash in a research note on Thursday, August 6th. Susquehanna lifted their target price on DoorDash from $225.00 to $250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company lifted their target price on DoorDash from $199.00 to $225.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.47.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Retail expansion: DoorDash is partnering with fashion brands including SKIMS and Windsor to deliver last-minute clothing and wardrobe items. The deals support DoorDash’s strategy of expanding beyond restaurant delivery, potentially increasing order frequency and broadening its addressable market. Windsor DoorDash partnership SKIMS DoorDash partnership
• Positive Sentiment: Technology and marketing visibility: DoorDash Labs was named Innovation Team of the Year, while a new Jameis Winston advertising campaign and football-season rewards promotion could support brand awareness and customer engagement. These developments are strategically favorable but have limited immediate earnings impact. DoorDash Labs award Jameis Winston DoorDash advertisement
• Neutral Sentiment: Human-interest coverage involving DoorDash orders, tipping and recipes is unlikely to materially affect the company’s financial outlook. Chicken recipes and DoorDash
• Negative Sentiment: Director Andy Fang sold 15,000 DASH shares for approximately $3.42 million at an average price of $228.31. Because the sale was executed under a pre-arranged Rule 10b5-1 plan, it is a weaker bearish signal, but it may still weigh on sentiment given the stock’s premium valuation. DoorDash director insider sale

DoorDash Company Profile

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.