Cerity Partners LLC Buys 2,402 Shares of DoorDash, Inc. $DASH

Cerity Partners LLC raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 108,173 shares of the company’s stock after purchasing an additional 2,402 shares during the period. Cerity Partners LLC’s holdings in DoorDash were worth $26,666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DASH. Saudi Central Bank bought a new position in shares of DoorDash during the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new stake in DoorDash during the 1st quarter worth approximately $26,000. Pacific Center for Financial Services purchased a new position in DoorDash during the first quarter valued at approximately $27,000. GFG Capital LLC bought a new position in shares of DoorDash in the second quarter worth approximately $30,000. Finally, SouthState Corp increased its stake in shares of DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company’s stock worth $38,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Alfred Lin acquired 389,047 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was acquired at an average cost of $193.81 per share, with a total value of $75,401,199.07. Following the purchase, the director directly owned 389,047 shares of the company’s stock, valued at approximately $75,401,199.07. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 288,410 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the completion of the sale, the chief executive officer owned 232,040 shares in the company, valued at approximately $45,489,121.60. This trade represents a 55.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 679,563 shares of company stock valued at $152,902,593 over the last ninety days. Corporate insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $225.43 on Tuesday. The company has a market cap of $97.16 billion, a price-to-earnings ratio of 114.43 and a beta of 1.72. DoorDash, Inc. has a 1 year low of $155.40 and a 1 year high of $285.50. The stock’s 50 day simple moving average is $236.35 and its two-hundred day simple moving average is $239.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up 27.3% compared to the same quarter last year. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on DASH. Cantor Fitzgerald lowered their target price on shares of DoorDash from $330.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Morgan Stanley raised their price target on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 20th. UBS Group dropped their price objective on DoorDash from $316.00 to $241.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Wedbush raised DoorDash from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $260.00 in a research note on Thursday, November 13th. Finally, Barclays lowered their price target on DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.62.

DoorDash Company 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.