Krilogy Financial LLC has made a significant investment by acquiring 7,262 shares of DoorDash, Inc. (NASDAQ: DASH), valued at approximately $1,975,000. This acquisition was disclosed in the firm’s recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC) for the third quarter of 2023.
Other institutional investors have also adjusted their stakes in DoorDash during this period. For instance, Physician Wealth Advisors Inc. increased its holdings by an astonishing 284.0%, bringing its total to 96 shares worth $26,000 after purchasing an additional 71 shares. Similarly, Sound Income Strategies LLC expanded its position by 2,760.0%, now owning 143 shares valued at $39,000 following an increase of 138 shares. Annis Gardner Whiting Capital Advisors LLC and Concord Wealth Partners each acquired new positions in DoorDash, with the latter investing around $50,000. Collectively, institutional investors own 90.64% of DoorDash’s stock.
Analysts Provide Mixed Ratings on DoorDash
Wall Street analysts have expressed varied opinions on DoorDash’s stock performance. BMO Capital Markets reaffirmed an “outperform” rating, while Guggenheim revised its price target down from $280.00 to $275.00, maintaining a “buy” rating. Argus also adjusted its target from $275.00 to $260.00, continuing to endorse a “buy” rating. Bank of America lowered its target from $325.00 to $305.00, while Stifel Nicolaus reduced its price objective from $253.00 to $224.00 and issued a “hold” rating.
Overall, the consensus rating for DoorDash among analysts is “Moderate Buy,” with a target price of $280.24. One analyst has rated the stock as a Strong Buy, while twenty-six have issued Buy ratings, eight have assigned a Hold rating, and one has given it a Sell rating.
Current Performance and Insider Activity
As of Thursday, shares of DoorDash opened at $175.47. The company boasts a market capitalization of $75.63 billion and has a price-to-earnings ratio of 89.07. The firm also reports a debt-to-equity ratio of 0.29 and both a quick and current ratio of 2.04. Over the past year, DoorDash’s stock has seen a low of $155.40 and a high of $285.50.
In recent insider transactions, Director Stanley Tang sold 45,410 shares of DoorDash on January 2, 2024, for an approximate total of $10,105,087.30 at an average price of $222.53 per share. Additionally, CEO Tony Xu sold 288,410 shares on November 20, 2023, for around $56,539,896.40 at an average price of $196.04. Following these transactions, Xu retained 232,040 shares, valued at approximately $45,489,121.60. Over the last three months, insiders have sold a total of 604,135 shares valued at $124,509,080.
Corporate insiders own 5.83% of DoorDash’s stock, reflecting a notable level of insider activity as the company continues to navigate the competitive food delivery market.
DoorDash, Inc. operates a technology-driven logistics and food-delivery marketplace that connects consumers with local restaurants and retailers through its app and website. The company has expanded its offerings beyond food delivery to include groceries and retail items, positioning itself as a comprehensive on-demand logistics provider.
