Empower Advisory Group LLC Acquires 11,616 Shares of DoorDash, Inc. (NASDAQ:DASH)

Empower Advisory Group LLC lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 25.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,486 shares of the company’s stock after acquiring an additional 11,616 shares during the period. Empower Advisory Group LLC’s holdings in DoorDash were worth $8,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DASH. Rakuten Securities Inc. increased its position in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares in the last quarter. Meeder Asset Management Inc. increased its position in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC bought a new stake in DoorDash in the 2nd quarter valued at about $32,000. Versant Capital Management Inc increased its position in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares in the last quarter. Finally, Quest Partners LLC increased its position in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock worth $46,439,330 over the last three months. Company insiders own 7.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DASH shares. Argus started coverage on DoorDash in a research note on Tuesday, July 23rd. They set a “hold” rating for the company. UBS Group boosted their target price on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. The Goldman Sachs Group boosted their target price on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. DA Davidson upped their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Evercore ISI upped their price objective on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Stock Down 0.4 %

DASH opened at $175.76 on Thursday. The stock has a market cap of $73.01 billion, a PE ratio of -390.58, a P/E/G ratio of 14.85 and a beta of 1.67. DoorDash, Inc. has a 52 week low of $90.87 and a 52 week high of $178.16. The business’s fifty day simple moving average is $147.14 and its 200 day simple moving average is $126.41.

DoorDash (NASDAQ:DASH) last released 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. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. As a group, equities analysts anticipate 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.