Commonwealth Equity Services LLC Has $6.62 Million Position in DoorDash, Inc. $DASH

Commonwealth Equity Services LLC reduced its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,220 shares of the company’s stock after selling 6,199 shares during the quarter. Commonwealth Equity Services LLC’s holdings in DoorDash were worth $6,618,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Intesa Sanpaolo S.p.A. acquired a new position in shares of DoorDash during the 4th quarter worth about $166,000. Dimensional Fund Advisors LP grew its position in shares of DoorDash by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 820,957 shares of the company’s stock worth $185,941,000 after buying an additional 7,052 shares during the period. SBE LLC DBA Cedar Cove Wealth Partners acquired a new position in shares of DoorDash during the 4th quarter worth about $330,000. Elevation Point Wealth Partners LLC grew its position in shares of DoorDash by 110.4% during the 4th quarter. Elevation Point Wealth Partners LLC now owns 2,270 shares of the company’s stock worth $514,000 after buying an additional 1,191 shares during the period. Finally, Marex Group plc grew its position in shares of DoorDash by 17.6% during the 4th quarter. Marex Group plc now owns 3,232 shares of the company’s stock worth $732,000 after buying an additional 483 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $265.00 target price on shares of DoorDash in a research report on Thursday, May 7th. Moffett Nathanson set a $276.00 target price on DoorDash in a research report on Wednesday, April 15th. Bank of America boosted their target price on DoorDash from $260.00 to $272.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Cantor Fitzgerald decreased their target price on DoorDash from $285.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $259.58.

DoorDash Trading Down 2.0%

NASDAQ:DASH opened at $156.80 on Friday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $68.32 billion, a PE ratio of 74.67 and a beta of 1.83. The business’s 50-day simple moving average is $162.40 and its 200-day simple moving average is $185.84.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the business posted $0.44 EPS. DoorDash’s revenue for the quarter was up 33.1% on a year-over-year basis. Sell-side analysts expect that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $176.61, for a total value of $220,762.50. Following the sale, the director owned 31,002 shares in the company, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stanley Tang sold 21,433 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the completion of the sale, the director owned 19,279 shares in the company, valued at $2,891,850. The trade was a 52.65% 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. In the last three months, insiders have sold 69,808 shares of company stock worth $11,135,403. Corporate insiders own 5.83% of the company’s stock.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.