Cetera Investment Advisers Acquires 788 Shares of DoorDash, Inc. (NASDAQ:DASH)

Cetera Investment Advisers boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,747 shares of the company’s stock after buying an additional 788 shares during the period. Cetera Investment Advisers’ holdings in DoorDash were worth $1,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DASH. Quarry LP purchased a new stake in shares of DoorDash in the second quarter worth approximately $60,000. Algert Global LLC purchased a new position in shares of DoorDash in the 2nd quarter valued at $338,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of DoorDash in the 2nd quarter valued at $6,005,000. Scientech Research LLC purchased a new position in DoorDash during the 2nd quarter worth $302,000. Finally, Shellback Capital LP purchased a new position in DoorDash during the 2nd quarter worth $5,439,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Roth Mkm lifted their price target on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Raymond James started coverage on DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Oppenheimer upped their price target on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. BMO Capital Markets upped their price target on DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Redburn Atlantic started coverage on DoorDash in a research report on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.91.

DoorDash Stock Performance

Shares of DASH stock opened at $149.86 on Thursday. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $150.29. The stock’s 50-day moving average is $134.16 and its two-hundred day moving average is $122.77. The firm has a market cap of $61.28 billion, a price-to-earnings ratio of -138.76, a PEG ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly 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). The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) EPS. As a group, research analysts predict that DoorDash, Inc. will post 0.01 EPS for the current year.

Insider Activity at DoorDash

In other news, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares in the company, valued at approximately $7,822,320. This trade represents a 0.00 % decrease in their position. The transaction 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 5,005 shares of DoorDash stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the transaction, the director now directly owns 65,186 shares in the company, valued at $7,822,320. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 277,337 shares of company stock worth $37,703,799 over the last 90 days. Company insiders own 7.92% of the company’s stock.

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.