Integrated Wealth Concepts LLC Purchases 108,307 Shares of DoorDash, Inc. $DASH

Integrated Wealth Concepts LLC raised its position in DoorDash, Inc. (NASDAQ:DASH) by 4,852.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 110,539 shares of the company’s stock after purchasing an additional 108,307 shares during the period. Integrated Wealth Concepts LLC’s holdings in DoorDash were worth $20,398,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC lifted its stake in shares of DoorDash by 707.8% in the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock valued at $57,378,000 after purchasing an additional 221,985 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in DoorDash by 9.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock worth $35,548,000 after purchasing an additional 13,121 shares during the period. Allstate Corp grew its stake in DoorDash by 116.7% during the fourth quarter. Allstate Corp now owns 29,227 shares of the company’s stock worth $6,619,000 after purchasing an additional 15,741 shares during the period. Brighton Jones LLC grew its stake in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the period. Finally, JCP Investment Management LLC bought a new stake in DoorDash in the first quarter worth approximately $991,000. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Down 1.6%

NASDAQ:DASH opened at $197.24 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a market cap of $85.46 billion, a PE ratio of 103.27 and a beta of 1.79. The firm has a 50-day moving average of $204.83 and a 200-day moving average of $179.36.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. DoorDash’s revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. As a group, equities research analysts expect that DoorDash, Inc. will post 2.49 EPS for the current fiscal year.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Retail expansion: DoorDash is partnering with fashion brands including SKIMS and Windsor to deliver last-minute clothing and wardrobe items. The deals support DoorDash’s strategy of expanding beyond restaurant delivery, potentially increasing order frequency and broadening its addressable market. Windsor DoorDash partnership SKIMS DoorDash partnership
• Positive Sentiment: Technology and marketing visibility: DoorDash Labs was named Innovation Team of the Year, while a new Jameis Winston advertising campaign and football-season rewards promotion could support brand awareness and customer engagement. These developments are strategically favorable but have limited immediate earnings impact. DoorDash Labs award Jameis Winston DoorDash advertisement
• Neutral Sentiment: Human-interest coverage involving DoorDash orders, tipping and recipes is unlikely to materially affect the company’s financial outlook. Chicken recipes and DoorDash
• Negative Sentiment: Director Andy Fang sold 15,000 DASH shares for approximately $3.42 million at an average price of $228.31. Because the sale was executed under a pre-arranged Rule 10b5-1 plan, it is a weaker bearish signal, but it may still weigh on sentiment given the stock’s premium valuation. DoorDash director insider sale

Insider Activity

In related news, Director Andy Fang sold 15,000 shares of DoorDash stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $228.31, for a total transaction of $3,424,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 16,044 shares of DoorDash stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $228.55, for a total value of $3,666,856.20. Following the transaction, the chief financial officer directly owned 217,911 shares in the company, valued at approximately $49,803,559.05. The trade was a 6.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 399,553 shares of company stock worth $87,034,140. Company insiders own 44.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DASH shares. Piper Sandler reissued a “neutral” rating and issued a $220.00 price target (up from $205.00) on shares of DoorDash in a research note on Thursday, August 6th. Guggenheim reiterated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a research note on Tuesday, June 23rd. Wells Fargo & Company lifted their price objective on shares of DoorDash from $199.00 to $225.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. BTIG Research reiterated a “buy” rating and set a $225.00 target price on shares of DoorDash in a research report on Thursday, August 6th. Finally, Jefferies Financial Group increased their target price on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $257.47.

About DoorDash

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.