Apollon Wealth Management LLC Makes New $219,000 Investment in DoorDash, Inc. (NASDAQ:DASH)

Apollon Wealth Management LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,531 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in DoorDash during the second quarter worth about $32,000. Meeder Asset Management Inc. boosted its stake in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the period. Quest Partners LLC increased its stake 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 purchasing an additional 204 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in DoorDash by 141.1% during the second quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after purchasing an additional 206 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on DASH. Redburn Atlantic assumed coverage on DoorDash in a report on Friday, July 26th. They issued a “buy” rating and a $170.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Argus initiated coverage on shares of DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Loop Capital increased their price target on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Benchmark lifted their price objective on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is available through this hyperlink. Also, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the sale, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 324,539 shares of company stock worth $46,439,330 over the last quarter. 7.92% of the stock is owned by corporate insiders.

DoorDash Stock Up 1.9 %

Shares of DASH stock opened at $172.73 on Tuesday. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $178.16. The firm’s 50 day moving average price is $149.97 and its two-hundred day moving average price is $127.39. The stock has a market cap of $71.75 billion, a price-to-earnings ratio of -383.84, a price-to-earnings-growth ratio of 14.26 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) EPS. The business’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities analysts forecast that DoorDash, Inc. will post 0.24 EPS for the current fiscal 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.