Vaughan Nelson Investment Management L.P. increased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 92.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,285,096 shares of the company's stock after purchasing an additional 616,049 shares during the quarter. DoorDash accounts for about 1.3% of Vaughan Nelson Investment Management L.P.'s investment portfolio, making the stock its 21st largest holding. Vaughan Nelson Investment Management L.P. owned about 0.31% of DoorDash worth $139,793,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Spire Wealth Management bought a new position in shares of DoorDash in the 1st quarter worth about $25,000. Venturi Wealth Management LLC boosted its stake in DoorDash by 54.5% in the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company's stock valued at $35,000 after acquiring an additional 90 shares during the period. Versant Capital Management Inc grew its holdings in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company's stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. ORG Partners LLC grew its holdings in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company's stock valued at $37,000 after purchasing an additional 253 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company's stock worth $39,000 after purchasing an additional 307 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.
DoorDash Trading Down 1.0 %
Shares of DASH traded down $1.26 during midday trading on Friday, hitting $129.03. The stock had a trading volume of 4,485,189 shares, compared to its average volume of 4,131,313. The business has a 50-day simple moving average of $112.05 and a two-hundred day simple moving average of $119.78. The firm has a market cap of $52.76 billion, a P/E ratio of -119.47, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34.
DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The business had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the company earned ($0.44) EPS. DoorDash's revenue for the quarter was up 23.3% on a year-over-year basis. On average, analysts expect that DoorDash, Inc. will post 0.07 earnings per share for the current fiscal year.
Analyst Ratings Changes
DASH has been the subject of a number of recent research reports. Barclays upped their price objective on DoorDash from $113.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Wolfe Research started coverage on shares of DoorDash in a research report on Tuesday, July 16th. They set an "outperform" rating and a $130.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of DoorDash from $125.00 to $127.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. Roth Mkm upped their target price on shares of DoorDash from $118.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Finally, Truist Financial raised their price target on shares of DoorDash from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $141.93.
Get Our Latest Research Report on DASH
Insiders Place Their Bets
In related news, Director Shona L. Brown sold 1,712 shares of the business's stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the transaction, the director now directly owns 70,191 shares of the company's stock, valued at $7,789,095.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Shona L. Brown sold 1,712 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the completion of the sale, the director now directly owns 70,191 shares in the company, valued at $7,789,095.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 518,187 shares of company stock worth $57,611,706. 7.92% of the stock is currently owned by company insiders.
About DoorDash
(Free Report)
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.
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