Janney Montgomery Scott LLC Increases Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Janney Montgomery Scott LLC grew its holdings in DoorDash, Inc. (NASDAQ:DASH) by 1,197.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,765 shares of the company’s stock after acquiring an additional 39,470 shares during the quarter. Janney Montgomery Scott LLC’s holdings in DoorDash were worth $6,104,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC raised its stake in DoorDash by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after acquiring an additional 82 shares during the last quarter. Everhart Financial Group Inc. boosted its position in DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after buying an additional 99 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after buying an additional 111 shares during the period. SJS Investment Consulting Inc. raised its position in DoorDash by 21.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after buying an additional 117 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in DoorDash by 4.4% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,006 shares of the company’s stock valued at $414,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DoorDash stock opened at $171.40 on Friday. The stock’s 50 day moving average price is $144.18 and its 200 day moving average price is $125.46. The company has a market cap of $70.54 billion, a PE ratio of -380.89, a price-to-earnings-growth ratio of 13.65 and a beta of 1.67. DoorDash, Inc. has a 1-year low of $83.58 and a 1-year high of $172.18.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the firm earned ($0.19) EPS. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock valued at $46,439,330 over the last 90 days. Insiders own 7.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DASH. BMO Capital Markets lifted their price target on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Susquehanna lifted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Thursday, September 19th. Finally, Wells Fargo & Company lifted their price target on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $163.12.

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.