219,516 Shares in DoorDash, Inc. $DASH Bought by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd opened a new DoorDash position in Q1, buying 219,516 shares valued at about $33 million, making DASH its fourth-largest holding.
• DoorDash remains heavily owned by institutions, with 90.64% of shares held by institutional investors; several large funds, including Vanguard and Morgan Stanley, also increased their stakes.
• Analyst sentiment is still positive overall despite some target cuts: the stock carries a Moderate Buy consensus rating with an average price target of $256.11, while the company recently beat EPS expectations in its latest quarterly report.

Y Intercept Hong Kong Ltd purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 219,516 shares of the company's stock, valued at approximately $32,960,000. DoorDash makes up 0.6% of Y Intercept Hong Kong Ltd's holdings, making the stock its 4th largest holding. Y Intercept Hong Kong Ltd owned 0.05% of DoorDash as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DASH. Vanguard Group Inc. grew its position in shares of DoorDash by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company's stock worth $9,835,229,000 after purchasing an additional 713,571 shares in the last quarter. SC US Ttgp LTD. raised its stake in DoorDash by 1.6% during the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company's stock valued at $7,176,387,000 after purchasing an additional 506,358 shares during the period. Morgan Stanley lifted its holdings in DoorDash by 2.3% in the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company's stock worth $3,971,741,000 after purchasing an additional 391,596 shares in the last quarter. State Street Corp lifted its holdings in DoorDash by 3.0% in the 4th quarter. State Street Corp now owns 15,761,072 shares of the company's stock worth $3,569,568,000 after purchasing an additional 464,448 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in DoorDash by 32.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the period. 90.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. DA Davidson lowered their target price on shares of DoorDash from $224.00 to $200.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Piper Sandler cut their target price on shares of DoorDash from $220.00 to $205.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Truist Financial reduced their price target on shares of DoorDash from $340.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. UBS Group boosted their price target on shares of DoorDash from $206.00 to $214.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Guggenheim reissued a "buy" rating and set a $255.00 price objective on shares of DoorDash in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $256.11.

Insider Buying and Selling

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares of the company's stock, valued at $148,896,549. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total value of $410,563.62. Following the sale, the insider owned 81,106 shares in the company, valued at approximately $12,599,006.04. This trade represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,707 shares of company stock valued at $7,113,039 in the last quarter. 5.83% of the stock is currently owned by insiders.

DoorDash Price Performance

DoorDash stock opened at $192.01 on Friday. The company has a market cap of $83.66 billion, a price-to-earnings ratio of 91.43 and a beta of 1.78. The firm's fifty day moving average is $165.79 and its 200 day moving average is $180.47. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same period last year, the company posted $0.44 EPS. The business's revenue was up 33.1% on a year-over-year basis. Sell-side analysts forecast that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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