Ascent Group LLC Invests $317,000 in DoorDash, Inc. $DASH

Key Points

• Ascent Group LLC has invested approximately $317,000 in DoorDash, purchasing 1,732 shares in the company's stock during the first quarter, according to a recent SEC filing.
• DoorDash's stocks have strong support from analysts, with multiple firms recently raising their price targets, such as KeyCorp's target of $325.00, suggesting a generally favorable outlook for the company.
• The company's recent earnings report indicated an EPS of $0.65, significantly above the estimated $0.42, and revenue of $3.28 billion, representing a 24.9% increase year-over-year.

Ascent Group LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,732 shares of the company's stock, valued at approximately $317,000.

Several other hedge funds have also added to or reduced their stakes in the business. Meiji Yasuda Life Insurance Co acquired a new stake in DoorDash during the 1st quarter valued at $360,000. United Services Automobile Association acquired a new stake in DoorDash during the 1st quarter valued at $1,441,000. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in DoorDash by 12.9% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,094 shares of the company's stock valued at $931,000 after purchasing an additional 584 shares during the last quarter. Caxton Associates LLP acquired a new stake in DoorDash during the 1st quarter valued at $668,000. Finally, Fred Alger Management LLC acquired a new stake in DoorDash during the 1st quarter valued at $6,464,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Benchmark raised their price target on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Piper Sandler lifted their target price on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. KeyCorp reissued an "overweight" rating and set a $325.00 target price (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Truist Financial lifted their target price on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Loop Capital reissued a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $266.71.

DoorDash Price Performance

DoorDash stock traded down $2.21 during midday trading on Friday, reaching $257.98. The company's stock had a trading volume of 2,215,886 shares, compared to its average volume of 2,802,284. DoorDash, Inc. has a 52 week low of $126.90 and a 52 week high of $278.15. 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 business has a 50-day moving average price of $248.21 and a 200-day moving average price of $216.06. The stock has a market cap of $110.21 billion, a PE ratio of 143.32 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business posted ($0.38) earnings per share. The business's revenue for the quarter was up 24.9% on a year-over-year basis. On average, sell-side analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Insiders Place Their Bets

In other DoorDash 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 transaction, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,019,042 shares of company stock worth $248,122,219. 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.