1,172 Shares in DoorDash, Inc. $DASH Acquired by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. acquired 1,172 shares of DoorDash, Inc., valued at approximately $289,000, in the second quarter of the year.
• Multiple hedge funds have increased their stakes in DoorDash, with Vanguard Group and AQR Capital Management showing significant increases of 25.8% and 442.5%, respectively.
• DoorDash's recent earnings report showed an EPS of $0.65, surpassing analyst expectations, and the company achieved a revenue of $3.28 billion for the quarter.

Patton Fund Management Inc. acquired a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,172 shares of the company's stock, valued at approximately $289,000.

Several other hedge funds also recently added to or reduced their stakes in DASH. Vanguard Group Inc. grew its position in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the period. AQR Capital Management LLC grew its position in DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after acquiring an additional 1,497,636 shares during the period. Invesco Ltd. grew its position in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the period. Nuveen LLC purchased a new position in DoorDash in the first quarter worth approximately $211,415,000. Finally, Deutsche Bank AG grew its position in DoorDash by 111.3% in the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock worth $367,313,000 after acquiring an additional 1,058,731 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $266.16, for a total value of $379,278.00. Following the sale, the chief financial officer directly owned 214,772 shares in the company, valued at approximately $57,163,715.52. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 51,250 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $258.26, for a total value of $13,235,825.00. Following the completion of the sale, the chief executive officer owned 1,500 shares in the company, valued at approximately $387,390. The trade was a 97.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 991,480 shares of company stock valued at $243,387,669. 5.83% of the stock is owned by company insiders.

DoorDash Stock Up 0.1%

Shares of NASDAQ DASH opened at $262.47 on Friday. The stock has a market cap of $112.13 billion, a P/E ratio of 145.82 and a beta of 1.70. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 12-month low of $140.53 and a 12-month high of $278.15. The business's fifty day simple moving average is $252.74 and its 200-day simple moving average is $220.96.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.38) earnings per share. As a group, equities analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DASH. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Bank of America raised their price target on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Wall Street Zen lowered DoorDash from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. Wedbush restated a "neutral" rating on shares of DoorDash in a research report on Friday, August 8th. Finally, DA Davidson raised their price target on DoorDash from $190.00 to $260.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and an average price target of $271.55.

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.

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