Blue Jean Financial LLC Purchases New Stake in DoorDash, Inc. $DASH

Key Points

• Blue Jean Financial purchased 5,671 DoorDash shares worth approximately $1.04 million during the third quarter. Institutional investors collectively own 90.64% of the company.
• Analysts maintain a generally positive outlook, with DoorDash holding a consensus “Moderate Buy” rating and an average price target of $254.95, above its reported trading price of $191.67.
• DoorDash’s latest quarterly revenue rose 35.6% year over year to $4.45 billion, exceeding expectations, though adjusted earnings of $0.46 per share narrowly missed the consensus estimate.

Blue Jean Financial LLC purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,671 shares of the company's stock, valued at approximately $1,041,000.

A number of other large investors have also bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake in shares of DoorDash by 372.0% during the third quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company's stock valued at $575,928,000 after acquiring an additional 2,472,980 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company's stock worth $1,159,377,000 after purchasing an additional 2,225,954 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of DoorDash by 15,993.1% in the third quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company's stock worth $223,285,000 after purchasing an additional 1,208,919 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in DoorDash by 49.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock valued at $519,744,000 after purchasing an additional 1,145,078 shares during the period. Finally, Nykredit A S bought a new position in DoorDash during the 2nd quarter valued at approximately $121,724,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In related news, COO Keith Yandell sold 2,183 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $183.69, for a total value of $400,995.27. Following the completion of the transaction, the chief operating officer directly owned 118,505 shares in the company, valued at $21,768,183.45. The trade was a 1.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 8,738 shares of the stock in a transaction on Monday, September 28th. The shares were sold at an average price of $180.85, for a total value of $1,580,267.30. Following the sale, the chief operating officer owned 921,473 shares in the company, valued at approximately $166,648,392.05. This represents a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 393,998 shares of company stock valued at $85,861,330 over the last ninety days. Corporate insiders own 44.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DASH shares. KeyCorp dropped their price objective on DoorDash from $280.00 to $275.00 and set an "overweight" rating for the company in a report on Tuesday, July 14th. TD Cowen lifted their price objective on DoorDash from $225.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. BTIG Research reissued a "buy" rating and set a $225.00 target price on shares of DoorDash in a research note on Thursday, August 6th. Guggenheim restated a "buy" rating and set a $255.00 target price on shares of DoorDash in a report on Wednesday, October 14th. Finally, Cantor Fitzgerald dropped their price target on DoorDash from $260.00 to $240.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $254.95.

DoorDash Trading Down 1.0%

NASDAQ DASH opened at $191.67 on Wednesday. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $269.00. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock's fifty day moving average price is $204.10 and its 200-day moving average price is $184.78. The stock has a market cap of $83.05 billion, a P/E ratio of 100.35 and a beta of 1.90.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%. The business's revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 2.51 EPS for the current fiscal year.

DoorDash Company Profile

DoorDash, Inc NASDAQ: DASH operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.

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