KPCB DGF II Associates LLC Takes $6.18 Million Position in DoorDash, Inc. $DASH

Key Points

• KPCB DGF II Associates LLC has acquired 33,818 shares of DoorDash, Inc., valued at approximately $6.18 million, making it the fund's second largest position at 9.7% of its portfolio.
• Several institutional investors, including OMERS ADMINISTRATION Corp and Guggenheim Capital LLC, have significantly increased their stakes in DoorDash during the 1st quarter.
• DoorDash recently reported a quarterly revenue of $3.28 billion, exceeding analysts' expectations, coupled with an EPS of $0.65, reflecting a strong recovery compared to last year's losses.

KPCB DGF II Associates LLC bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,818 shares of the company's stock, valued at approximately $6,181,000. DoorDash accounts for approximately 9.7% of KPCB DGF II Associates LLC's investment portfolio, making the stock its 2nd biggest holding.

A number of other large investors have also recently modified their holdings of DASH. Harbour Investments Inc. raised its stake in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 70 shares in the last quarter. SouthState Corp grew its holdings in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after purchasing an additional 183 shares during the last quarter. ORG Partners LLC lifted its stake in DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC lifted its stake in DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after purchasing an additional 247 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. boosted its position in DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after buying an additional 180 shares during the period. Institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the sale, the chief operating officer directly owned 914,547 shares in the company, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shona L. Brown sold 1,650 shares of DoorDash stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $272.00, for a total value of $448,800.00. Following the completion of the sale, the director owned 41,827 shares of the company's stock, valued at $11,376,944. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 932,764 shares of company stock valued at $224,714,524. 5.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DASH. Piper Sandler lifted their price target on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Sanford C. Bernstein lifted their price target on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Zacks Research raised DoorDash to a "hold" rating in a research note on Tuesday, August 12th. Evercore ISI reissued an "outperform" rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Finally, Wedbush reaffirmed a "neutral" rating on shares of DoorDash in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $263.88.

DoorDash Stock Down 0.8%

Shares of NASDAQ DASH traded down $2.08 during trading on Friday, reaching $245.25. The company had a trading volume of 1,966,601 shares, compared to its average volume of 3,884,752. DoorDash, Inc. has a 12-month low of $122.32 and a 12-month high of $278.15. The stock has a market cap of $104.77 billion, a PE ratio of 136.25 and a beta of 1.70. The business's 50-day moving average is $245.52 and its 200 day moving average is $212.79. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

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

DoorDash 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.