Brighton Jones LLC Has $1.08 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Brighton Jones LLC reduced its holdings in DoorDash, Inc. (NASDAQ:DASH) by 27.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,529 shares of the company’s stock after selling 2,788 shares during the quarter. Brighton Jones LLC’s holdings in DoorDash were worth $1,075,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP grew its position in shares of DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in DoorDash during the first quarter worth about $2,969,000. CWM LLC grew its position in DoorDash by 97.1% during the third quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after buying an additional 5,273 shares in the last quarter. Paragon Capital Management Inc. acquired a new stake in DoorDash during the second quarter worth about $1,309,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in DoorDash by 9.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company’s stock worth $2,807,000 after buying an additional 2,125 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group lifted their target price on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday. Argus initiated coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. KeyCorp raised DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price objective on the stock in a report on Wednesday, September 25th. Truist Financial lifted their price objective on DoorDash from $150.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

DoorDash Stock Performance

Shares of DoorDash stock opened at $153.19 on Friday. The firm has a fifty day moving average of $137.26 and a two-hundred day moving average of $123.47. The stock has a market capitalization of $62.64 billion, a price-to-earnings ratio of -141.84, a PEG ratio of 425.82 and a beta of 1.70. DoorDash, Inc. has a 52 week low of $69.90 and a 52 week high of $154.16.

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

Insider Activity

In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the transaction, the chief financial officer now owns 417,223 shares of the company’s stock, valued at $44,492,660.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the transaction, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 390,710 shares of company stock valued at $54,472,120 in the last quarter. Company insiders own 7.92% of the company’s stock.

DoorDash 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.