Caxton Associates LLP Makes New $668,000 Investment in DoorDash, Inc. $DASH

Key Points

• Caxton Associates LLP has initiated a new investment in DoorDash, acquiring 3,655 shares valued at approximately $668,000.
• Institutional investors hold a significant majority, with 90.64% of DoorDash’s stock owned by them, showing strong interest in the company's performance.
• DoorDash recently reported better-than-expected earnings, with $0.65 EPS surpassing estimates and revenue of $3.28 billion for the quarter.

Caxton Associates LLP bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,655 shares of the company's stock, valued at approximately $668,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after purchasing an additional 641,601 shares in the last quarter. Invesco Ltd. increased its holdings in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Northern Trust Corp increased its holdings in DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock worth $604,829,000 after purchasing an additional 915,512 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in DoorDash by 36.5% in the first 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 in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Down 0.8%

Shares of NASDAQ:DASH traded down $2.21 during mid-day trading on Friday, hitting $257.98. 2,215,886 shares of the company traded hands, compared to its average volume of 2,845,738. The stock has a market cap of $110.21 billion, a P/E ratio of 143.32 and a beta of 1.70. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 12-month low of $126.90 and a 12-month high of $278.15. The stock has a 50-day moving average price of $248.21 and a two-hundred day moving average price of $216.06.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.DoorDash's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. On average, equities research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction that occurred on 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 owned 914,547 shares of the company's stock, valued at $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,019,042 shares of company stock worth $248,122,219 in the last ninety days. Corporate insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler boosted their price objective on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a report 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 report on Thursday, August 7th. Morgan Stanley boosted their price objective on DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, BTIG Research boosted their price objective on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and an average price target of $266.71.

DoorDash Company 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.