32,279 Shares in DoorDash, Inc. $DASH Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. acquired 32,279 DoorDash shares worth approximately $5.9 million in the third quarter. Institutional investors and hedge funds collectively own 90.64% of the company.
• Analysts maintain a generally positive outlook, with DoorDash receiving a “Moderate Buy” consensus rating and an average price target of $254.95, despite Barclays downgrading the stock to “Strong Sell.”
• DoorDash’s latest quarter showed 35.6% year-over-year revenue growth to $4.45 billion, though earnings per share slightly missed estimates; meanwhile, insiders sold about $85.9 million of stock during the quarter.

First Citizens Bank & Trust Co. bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 32,279 shares of the company's stock, valued at approximately $5,925,000.

A number of other hedge funds also recently added to or reduced their stakes in DASH. Krilogy Financial LLC grew its stake in DoorDash by 407.0% during the 3rd quarter. Krilogy Financial LLC now owns 7,945 shares of the company's stock worth $1,458,000 after purchasing an additional 6,378 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in DoorDash during the 3rd quarter worth about $1,354,000. Eastern Bank purchased a new stake in DoorDash during the 3rd quarter worth about $69,000. QRG Capital Management Inc. raised its position in DoorDash by 191.2% in the 2nd quarter. QRG Capital Management Inc. now owns 251,374 shares of the company's stock valued at $46,386,000 after purchasing an additional 165,039 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in DoorDash by 501.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,211 shares of the company's stock valued at $5,390,000 after purchasing an additional 24,356 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus lifted their price objective on DoorDash from $190.00 to $270.00 in a research note on Thursday, August 27th. UBS Group reissued a "buy" rating and set a $295.00 price objective on shares of DoorDash in a research report on Tuesday, September 8th. TD Cowen upped their target price on shares of DoorDash from $225.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Scotiabank initiated coverage on shares of DoorDash in a report on Wednesday, September 9th. They issued a "sector outperform" rating and a $275.00 target price on the stock. Finally, Barclays cut shares of DoorDash from an "equal weight" rating to a "strong sell" rating in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $254.95.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 29,567 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the sale, the chief executive officer owned 1,500 shares of the company's stock, valued at approximately $345,000. This trade represents a 95.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,505 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $220.62, for a total value of $4,303,193.10. Following the sale, the chief financial officer directly owned 232,938 shares in the company, valued at $51,390,781.56. This trade represents a 7.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 393,998 shares of company stock worth $85,861,330. Corporate insiders own 44.90% of the company's stock.

DoorDash Stock Performance

Shares of DASH stock opened at $184.01 on Thursday. The company has a market cap of $79.73 billion, a P/E ratio of 96.34 and a beta of 1.90. The firm has a fifty day moving average price of $205.78 and a 200 day moving average price of $183.57. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm's quarterly revenue was up 35.6% on a year-over-year basis. Sell-side analysts predict that DoorDash, Inc. will post 2.51 earnings per share for the current fiscal year.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is partnering with Woolworths Group to bring BIG W to its Australian marketplace, offering more than 35,000 everyday products with delivery in as little as 60 minutes. The agreement expands DoorDash’s retail selection and supports its strategy of increasing order frequency beyond restaurant delivery. BIG W Lands on DoorDash App
• Positive Sentiment: DoorDash launched an on-demand delivery collaboration with SKIMS, giving customers access to apparel and related products. The partnership, supported by Kim Kardashian-focused marketing, could improve consumer awareness of DoorDash’s non-food offerings. SKIMS and DoorDash Partnership
• Positive Sentiment: DoorDash is expanding into Geraldton, Kalgoorlie and Horsham in Australia, indicating continued investment in regional coverage and potential long-term marketplace growth. DoorDash Regional Australian Expansion

About DoorDash

DoorDash, Inc is a technology company that operates a local commerce platform connecting consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its DoorDash app and website, customers can discover businesses, place orders for delivery or pickup, and access related services. The company also provides merchants with tools for online ordering, logistics, customer engagement, advertising and business analytics.

DoorDash generates additional activity through subscription programs such as DashPass, which provides participating customers with delivery-related benefits, and through its logistics and commerce solutions for merchants.

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