Parkway Wealth Management Group LLC Acquires 15,915 Shares of DoorDash, Inc. $DASH

Parkway Wealth Management Group LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the third quarter, HoldingsChannel reports. The institutional investor bought 15,915 shares of the company’s stock, valued at approximately $2,921,000.

Several other large investors also recently modified their holdings of DASH. Washington Trust Advisors Inc. increased its position in shares of DoorDash by 81.0% in the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after purchasing an additional 64 shares during the period. Premier Path Wealth Partners LLC raised its stake in DoorDash by 2.7% in the second quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock valued at $465,000 after purchasing an additional 67 shares in the last quarter. V Square Quantitative Management LLC raised its stake in DoorDash by 3.3% in the first quarter. V Square Quantitative Management LLC now owns 2,327 shares of the company’s stock valued at $349,000 after purchasing an additional 74 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in DoorDash by 8.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,107 shares of the company’s stock valued at $251,000 after purchasing an additional 82 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in DoorDash by 8.4% during the third quarter. AdvisorNet Financial Inc now owns 1,339 shares of the company’s stock worth $246,000 after purchasing an additional 104 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DASH shares. Moffett Nathanson reduced their price objective on shares of DoorDash from $280.00 to $278.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Roth Capital raised their target price on shares of DoorDash from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, August 10th. UBS Group restated a “buy” rating and issued a $295.00 target price on shares of DoorDash in a research report on Tuesday, September 8th. Bank of America reaffirmed a “buy” rating on shares of DoorDash in a report on Thursday, August 6th. Finally, Loop Capital upped their price target on shares of DoorDash from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $254.95.

DoorDash Price Performance

DoorDash stock opened at $193.53 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $269.00. The stock has a market capitalization of $83.86 billion, a P/E ratio of 101.32 and a beta of 1.90. The stock has a fifty day moving average of $204.51 and a 200-day moving average of $184.49.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period last year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, sell-side analysts expect that DoorDash, Inc. will post 2.51 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 19,505 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the completion of the transaction, the chief financial officer owned 232,938 shares of the company’s stock, valued at approximately $51,390,781.56. This represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Prabir Adarkar sold 55,289 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the completion of the sale, the chief operating officer owned 930,211 shares in the company, valued at approximately $215,585,701.36. The trade was a 5.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 393,998 shares of company stock valued at $85,861,330. 44.90% of the stock is owned by company insiders.

DoorDash Profile

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.