Summit Trail Advisors LLC Buys 600 Shares of DoorDash, Inc. (NASDAQ:DASH)

Summit Trail Advisors LLC increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 38,730 shares of the company’s stock after buying an additional 600 shares during the period. Summit Trail Advisors LLC’s holdings in DoorDash were worth $5,528,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alpha DNA Investment Management LLC bought a new stake in shares of DoorDash during the 3rd quarter worth about $890,000. Swedbank AB boosted its holdings in shares of DoorDash by 1.0% during the 3rd quarter. Swedbank AB now owns 165,516 shares of the company’s stock worth $23,624,000 after buying an additional 1,588 shares during the period. Algert Global LLC boosted its holdings in shares of DoorDash by 1,017.4% during the 3rd quarter. Algert Global LLC now owns 34,674 shares of the company’s stock worth $4,949,000 after buying an additional 31,571 shares during the period. Cerity Partners LLC boosted its holdings in shares of DoorDash by 13.7% during the 3rd quarter. Cerity Partners LLC now owns 87,944 shares of the company’s stock worth $12,552,000 after buying an additional 10,630 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of DoorDash by 6.6% during the 3rd quarter. Citigroup Inc. now owns 413,805 shares of the company’s stock worth $59,062,000 after buying an additional 25,576 shares during the period. Institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $177.24 on Friday. The company has a 50 day simple moving average of $153.61 and a 200 day simple moving average of $128.96. The stock has a market cap of $73.62 billion, a price-to-earnings ratio of -393.87, a P/E/G ratio of 13.31 and a beta of 1.67. DoorDash, Inc. has a 1 year low of $92.56 and a 1 year high of $178.16.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company earned ($0.19) EPS. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 547,753 shares of company stock worth $84,544,996. 7.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DASH has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Mizuho boosted their price objective on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. KeyCorp boosted their price objective on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Benchmark boosted their price objective on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on shares of DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.03.

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.