DoorDash, Inc. $DASH Stock Holdings Cut by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC cut its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 28.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 58,839 shares of the company’s stock after selling 22,834 shares during the quarter. GC Wealth Management RIA LLC’s holdings in DoorDash were worth $8,835,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. acquired a new position in DoorDash during the fourth quarter worth about $26,000. Eastern Bank lifted its holdings in DoorDash by 714.3% in the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after acquiring an additional 67 shares during the last quarter. Swiss RE Ltd. acquired a new stake in DoorDash in the 4th quarter valued at about $28,000. Finally, ST Germain D J Co. Inc. bought a new position in shares of DoorDash during the 4th quarter valued at about $29,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $169.77 on Friday. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The firm has a 50-day moving average of $171.94 and a two-hundred day moving average of $176.06. The firm has a market capitalization of $73.97 billion, a PE ratio of 80.84 and a beta of 1.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, analysts forecast that DoorDash, Inc. will post 2.39 earnings per share for the current year.

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. Stifel Nicolaus lowered their price objective on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. TD Cowen restated a “buy” rating on shares of DoorDash in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Argus set a $190.00 price target on shares of DoorDash in a research report on Thursday, June 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 price target on shares of DoorDash in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 23,125 shares of DoorDash stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total transaction of $4,421,268.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the sale, the general counsel owned 128,216 shares of the company’s stock, valued at $20,615,850.64. The trade was a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 74,927 shares of company stock worth $13,241,532. 5.83% of the stock is owned by corporate insiders.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.