Aberdeen Group plc Grows Position in DoorDash, Inc. $DASH

Key Points

• Aberdeen Group plc increased its stake in DoorDash, owning 183,593 shares valued at approximately $32.70 million, following a 193.2% boost in the first quarter.
• DoorDash reported a revenue increase of 24.9% year-over-year, with earnings per share of $0.65 for the latest quarter, surpassing expectations.
• Several analysts raised their price targets for DoorDash, with the average target now at $263.88, signaling a generally positive outlook for the stock.

Aberdeen Group plc lifted its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 193.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,593 shares of the company's stock after buying an additional 120,974 shares during the period. Aberdeen Group plc's holdings in DoorDash were worth $32,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in DoorDash by 11.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 822,185 shares of the company's stock worth $150,270,000 after purchasing an additional 87,272 shares during the last quarter. Horizon Investments LLC acquired a new stake in DoorDash during the 1st quarter valued at approximately $889,000. Kovitz Investment Group Partners LLC acquired a new stake in DoorDash during the 1st quarter valued at approximately $4,376,000. Cookson Peirce & Co. Inc. lifted its stake in DoorDash by 26.5% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 4,559 shares of the company's stock valued at $833,000 after acquiring an additional 956 shares during the period. Finally, Vestmark Advisory Solutions Inc. lifted its stake in DoorDash by 90.1% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 4,438 shares of the company's stock valued at $811,000 after acquiring an additional 2,103 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the sale, the director owned 26,070 shares of the company's stock, valued at $6,442,157.70. This represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 34,167 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $247.78, for a total transaction of $8,465,899.26. Following the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at $128,957,101. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 688,999 shares of company stock valued at $163,218,226. 5.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the company a "buy" rating in a research note on Thursday, August 7th. JMP Securities boosted their target price on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Stifel Nicolaus boosted their target price on shares of DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Finally, Citigroup reiterated an "outperform" rating on shares of DoorDash in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Price Performance

NASDAQ:DASH traded down $4.55 during trading hours on Wednesday, reaching $243.82. 6,571,412 shares of the company were exchanged, compared to its average volume of 4,747,383. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average is $241.27 and its 200-day moving average is $209.95. The firm has a market cap of $104.16 billion, a PE ratio of 135.46 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $122.32 and a twelve month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.38) earnings per share. On average, sell-side analysts anticipate 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.