Banco Santander S.A. Grows Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Banco Santander S.A. increased its holdings in DoorDash by an astonishing 1,631.7%, now owning 52,159 shares valued at approximately $9.53 million.
• Several institutional investors, including Capital World Investors and UBS AM, have significantly increased their positions in DoorDash, which now has over 90.64% of its stock owned by such investors.
• Despite the institutional interest, DoorDash's stock has seen a slight decline of 0.8% recently, with the shares trading at around $248.35.

Banco Santander S.A. boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1,631.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,159 shares of the company's stock after buying an additional 49,147 shares during the quarter. Banco Santander S.A.'s holdings in DoorDash were worth $9,533,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares in the last quarter. ORG Partners LLC lifted its holdings in DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC lifted its holdings in DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. lifted its holdings 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 purchasing an additional 180 shares in the last quarter. Finally, Washington Trust Advisors Inc. purchased a new position in DoorDash during the first quarter valued at $56,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BTIG Research increased their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group reaffirmed a "hold" rating and set a $250.00 price objective (up from $235.00) on shares of DoorDash in a report on Tuesday, July 15th. Roth Capital increased their price objective on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Thursday, June 12th. Finally, JMP Securities raised their price target on shares of DoorDash from $235.00 to $250.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.56.

DoorDash Price Performance

Shares of DASH stock traded down $2.72 during trading on Tuesday, reaching $255.30. The company's stock had a trading volume of 610,395 shares, compared to its average volume of 4,723,366. The company has a market capitalization of $108.18 billion, a price-to-earnings ratio of 331.50 and a beta of 1.70. The stock's 50-day moving average price is $231.68 and its 200 day moving average price is $204.50. DoorDash, Inc. has a 1-year low of $120.91 and a 1-year high of $259.87.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The firm's quarterly revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity

In other news, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the sale, the chief executive officer owned 520,450 shares in the company, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Prabir Adarkar sold 62,267 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the sale, the chief operating officer owned 942,554 shares of the company's stock, valued at $191,027,419.18. This represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,127 shares of company stock worth $115,087,539 over the last three months. Insiders own 5.83% of the company's stock.

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.