Kingswood Wealth Advisors LLC Acquires 17,451 Shares of DoorDash, Inc. $DASH

Kingswood Wealth Advisors LLC increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 719.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,875 shares of the company’s stock after acquiring an additional 17,451 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in DoorDash were worth $3,648,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DASH. City State Bank increased its position in DoorDash by 56.0% in the 3rd quarter. City State Bank now owns 156 shares of the company’s stock valued at $29,000 after acquiring an additional 56 shares during the period. Washington Trust Advisors Inc. lifted its holdings in shares of DoorDash by 81.0% during 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 lifted its holdings in shares of DoorDash by 2.7% during the second quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock worth $465,000 after purchasing an additional 67 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of DoorDash by 3.3% during the first quarter. V Square Quantitative Management LLC now owns 2,327 shares of the company’s stock worth $349,000 after purchasing an additional 74 shares during the period. Finally, AdvisorNet Financial Inc grew its stake in shares of DoorDash by 8.4% in 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 last quarter. 90.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

DASH has been the subject of a number of recent research reports. Cantor Fitzgerald decreased their price objective on DoorDash from $260.00 to $240.00 and set an “overweight” rating for the company in a report on Monday, October 12th. KeyCorp lowered their target price on DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Wedbush lifted their target price on DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Susquehanna upped their price target on DoorDash from $225.00 to $250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of DoorDash in a research report on Thursday, September 3rd. 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 issued a Sell rating to the company. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $254.95.

DoorDash Stock Down 6.1%

DoorDash stock opened at $168.44 on Tuesday. The firm has a market cap of $72.99 billion, a price-to-earnings ratio of 88.19 and a beta of 1.90. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $269.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a 50 day moving average price of $201.31 and a two-hundred day moving average price of $184.05.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. Equities analysts predict that DoorDash, Inc. will post 2.51 EPS for the current year.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is reportedly in exclusive or advanced talks to acquire Instacart, with a deal potentially being completed as soon as this week. Combining the two platforms could expand DoorDash’s grocery, retail and convenience-delivery scale, create cost synergies and improve its ability to compete with Uber Eats and Amazon. DoorDash Is in Advanced Talks to Acquire Delivery Rival Instacart
• Positive Sentiment: Instacart’s reported talks with Uber are no longer active, potentially leaving DoorDash as the leading buyer and reducing the likelihood of a competing bid. DoorDash in talks to buy delivery rival Instacart in $17B deal
• Neutral Sentiment: The reports remain unconfirmed, and the $17 billion figure and final transaction structure could change. Instacart’s stock jumped on the reports, indicating that markets view a deal as increasingly plausible, but DoorDash shareholders must wait for definitive terms. DoorDash in exclusive talks to acquire Instacart
• Negative Sentiment: The proposed purchase would be substantial relative to DoorDash’s roughly $73 billion market value. Investors may be concerned about debt, stock issuance, a potentially high valuation and the difficulty of integrating two large delivery businesses. Those risks appear to be outweighing the deal’s strategic benefits in the current trading reaction. DoorDash Circles Deal to Buy Instacart

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $228.31, for a total value of $3,424,650.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 72,367 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the completion of the transaction, the director owned 10,361 shares in the company, valued at approximately $2,332,882.76. The trade was a 87.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 393,998 shares of company stock valued at $85,861,330 over the last three months. 44.90% of the stock is currently owned by corporate insiders.

DoorDash Company 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.