AG2R LA Mondiale Gestion D Actifs Takes $2.43 Million Position in DoorDash, Inc. $DASH

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in DoorDash, Inc., purchasing 13,294 shares valued at approximately $2.43 million.
• Institutional investors, including Vanguard Group Inc. and AQR Capital Management LLC, have significantly increased their holdings in DoorDash during the first quarter, indicating strong investor interest.
• DoorDash reported a quarterly revenue increase of 24.9% year-over-year, with earnings per share of $0.65 exceeding analysts' expectations.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,294 shares of the company's stock, valued at approximately $2,430,000.

A number of other institutional investors have also recently made changes to their positions in DASH. Vanguard Group Inc. lifted its position in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after buying an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after buying an additional 1,497,636 shares during the last quarter. Invesco Ltd. lifted its position in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after buying an additional 1,416,194 shares during the last quarter. Nuveen LLC bought a new stake in shares of DoorDash during the 1st quarter valued at $211,415,000. Finally, Deutsche Bank AG raised its stake in shares of DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after purchasing an additional 1,058,731 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $257.98 on Friday. The firm has a market capitalization of $110.21 billion, a P/E ratio of 143.32 and a beta of 1.70. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock's 50-day simple moving average is $248.21 and its two-hundred day simple moving average is $215.94. DoorDash, Inc. has a twelve month low of $126.90 and a twelve month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company's quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.38) EPS. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of analyst reports. Roth Capital boosted their price objective on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. JMP Securities boosted their price objective on DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their price objective on DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Benchmark boosted their price objective on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Susquehanna boosted their price objective on DoorDash from $235.00 to $300.00 and gave the company a "positive" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $266.71.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at approximately $224,813,943.54. This represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,019,042 shares of company stock valued at $248,122,219 over the last 90 days. Company insiders own 5.83% of the company's stock.

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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