Transcendent Capital Group LLC Buys New Stake in DoorDash, Inc. (NASDAQ:DASH)

Transcendent Capital Group LLC purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,475 shares of the company’s stock, valued at approximately $1,781,000.

A number of other institutional investors also recently added to or reduced their stakes in DASH. Brighton Jones LLC raised its stake in shares of DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after purchasing an additional 82 shares in the last quarter. Everhart Financial Group Inc. raised its position in shares of DoorDash by 3.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after buying an additional 99 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of 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 acquiring an additional 111 shares during the period. SJS Investment Consulting Inc. boosted its holdings in shares of DoorDash by 21.0% in the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock valued at $73,000 after acquiring an additional 117 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in shares of DoorDash by 4.4% during the first 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. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total value of $7,491,500.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at $2,710,274.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s 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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock worth $46,439,330 in the last ninety days. 7.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DASH shares. Wolfe Research began coverage on DoorDash in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 target price for the company. KeyCorp lifted their target price on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, September 19th. Roth Mkm lifted their price objective on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of DoorDash in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $163.12.

DoorDash Stock Performance

DoorDash stock opened at $171.40 on Friday. The business’s 50-day simple moving average is $144.18 and its 200-day simple moving average is $125.43. DoorDash, Inc. has a 52 week low of $83.58 and a 52 week high of $172.18. The firm has a market capitalization of $71.20 billion, a PE ratio of -380.89, a PEG ratio of 14.27 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts forecast that DoorDash, Inc. will post 0.24 earnings per share for the current year.

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.