ASR Vermogensbeheer N.V. Invests $4.63 Million in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $4.63 million in DoorDash, acquiring 25,348 shares of the company during the first quarter.
• Various institutional investors, including Vanguard Group and Goldman Sachs, have increased their holdings in DoorDash significantly, indicating strong investor interest.
• DoorDash reported better-than-expected earnings with an EPS of $0.65, surpassing analyst estimates of $0.42, and generated revenue of $3.28 billion in the quarter.

ASR Vermogensbeheer N.V. purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,348 shares of the company's stock, valued at approximately $4,633,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after buying an additional 8,073,882 shares during the period. Capital World Investors increased its holdings in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Goldman Sachs Group Inc. increased its holdings in DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after purchasing an additional 842,637 shares during the period. Marshall Wace LLP increased its holdings in DoorDash by 0.6% during the 4th quarter. Marshall Wace LLP now owns 2,764,431 shares of the company's stock worth $463,733,000 after purchasing an additional 15,952 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in DoorDash by 46.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock worth $422,036,000 after purchasing an additional 800,322 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on DASH. Roth Capital raised their price objective on DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Morgan Stanley raised their price objective on DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday. Wedbush restated an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. BMO Capital Markets raised their price objective on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $260.00 price objective (up from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and a consensus target price of $255.65.

Insider Activity at DoorDash

In other DoorDash news, Director Shona L. Brown sold 825 shares of DoorDash stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $250.00, for a total transaction of $206,250.00. Following the completion of the sale, the director owned 43,477 shares of the company's stock, valued at approximately $10,869,250. The trade was a 1.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 4,042 shares of DoorDash stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $250.28, for a total value of $1,011,631.76. Following the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at approximately $130,258,226. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 583,537 shares of company stock worth $133,720,004 in the last quarter. 5.83% of the stock is owned by insiders.

DoorDash Stock Performance

Shares of DASH opened at $270.99 on Friday. The stock has a 50-day moving average of $235.05 and a two-hundred day moving average of $205.89. DoorDash, Inc. has a one year low of $121.18 and a one year high of $278.15. The stock has a market cap of $114.83 billion, a P/E ratio of 150.55 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly 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 9.86% and a net margin of 6.57%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the firm posted ($0.38) EPS. The firm's revenue was up 24.9% compared to the same quarter last year. Analysts predict that DoorDash, Inc. will post 2.22 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.