Summit Trail Advisors LLC Raises Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Summit Trail Advisors LLC increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,130 shares of the company’s stock after acquiring an additional 1,205 shares during the quarter. Summit Trail Advisors LLC’s holdings in DoorDash were worth $4,148,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of DoorDash during the 2nd quarter worth $32,000. Versant Capital Management Inc increased its holdings in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the last quarter. ORG Partners LLC raised its stake in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the period. Finally, Quest Partners LLC lifted its holdings in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $139.72 on Friday. The company’s 50 day moving average price is $120.68 and its 200-day moving average price is $121.53. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $143.34. The stock has a market capitalization of $57.13 billion, a price-to-earnings ratio of -129.37, a P/E/G ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the company posted ($0.44) earnings per share. As a group, equities research analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on DASH. DA Davidson lifted their price objective on shares of DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. BMO Capital Markets boosted their price objective on DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Redburn Atlantic began coverage on shares of DoorDash in a research report on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective for the company. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of DoorDash in a report on Friday, August 2nd. Finally, Truist Financial upped their price target on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $109.30, for a total transaction of $765,100.00. Following the completion of the transaction, the chief financial officer now directly owns 424,223 shares of the company’s stock, valued at $46,367,573.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 304,769 shares of company stock worth $34,760,113. 7.92% of the stock is currently owned by company insiders.

About DoorDash

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.