Icon Wealth Advisors LLC Lowers Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Icon Wealth Advisors LLC trimmed its stake in DoorDash, Inc. (NASDAQ:DASH) by 78.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 457 shares of the company’s stock after selling 1,690 shares during the period. Icon Wealth Advisors LLC’s holdings in DoorDash were worth $65,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DASH shares. JMP Securities raised their target price on DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Bank of America increased their target price on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price target on DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Mizuho increased their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

DoorDash Trading Up 2.4 %

DASH opened at $177.24 on Monday. The stock’s fifty day simple moving average is $153.61 and its 200 day simple moving average is $129.08. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16. The stock has a market cap of $73.62 billion, a PE ratio of -393.87, a price-to-earnings-growth ratio of 13.31 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the company posted ($0.19) EPS. DoorDash’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In related 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 value of $7,586,489.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s 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 of the company’s stock, valued at $50,651,994.72. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 547,753 shares of company stock valued at $84,544,996. Insiders own 7.92% of the company’s stock.

About DoorDash

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.