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Charles Schwab Investment Management Inc. Buys 887,435 Shares of DoorDash, Inc. (NASDAQ:DASH)

DoorDash logo with Computer and Technology background

Key Points

  • Charles Schwab Investment Management Inc. increased its stake in DoorDash by 62.6% in Q1, now owning approximately 2.3 million shares valued at $421 million.
  • Numerous hedge funds boosted their positions in DoorDash, with ORG Partners increasing its holdings by 404% and Rothschild Investment raising its stake by 1,452.9% during the same period.
  • DoorDash reported $3.28 billion in revenue for the last quarter, exceeding estimates, and its earnings per share of $0.65 surpassed the consensus estimate by $0.23.
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Charles Schwab Investment Management Inc. grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 62.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,305,627 shares of the company's stock after acquiring an additional 887,435 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.55% of DoorDash worth $421,399,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DASH. Vanguard Group Inc. raised its holdings in shares of DoorDash by 25.8% in the 1st 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 in the last quarter. 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 valued at $2,038,712,000 after purchasing an additional 2,538,160 shares in the last quarter. 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 valued at $576,089,000 after purchasing an additional 842,637 shares in the last quarter. 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 valued at $422,036,000 after purchasing an additional 800,322 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in DoorDash by 2,183.2% during the 4th quarter. Voloridge Investment Management LLC now owns 816,881 shares of the company's stock valued at $137,032,000 after purchasing an additional 781,103 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

Shares of DoorDash stock traded down $11.80 during mid-day trading on Friday, hitting $259.19. 5,340,842 shares of the stock were exchanged, compared to its average volume of 3,280,438. DoorDash, Inc. has a 12 month low of $121.44 and a 12 month high of $278.15. The company has a 50-day simple moving average of $236.11 and a 200 day simple moving average of $206.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 2.07. The company has a market capitalization of $109.83 billion, a P/E ratio of 144.00 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last posted 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. The company had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash's revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) EPS. Sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DASH has been the subject of a number of recent analyst reports. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $260.00 price target (up from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Loop Capital reissued a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Evercore ISI lifted their target price on DoorDash from $240.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Needham & Company LLC lifted their target price on DoorDash from $230.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday. Twelve research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.18.

Check Out Our Latest Stock Analysis on DASH

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 4,042 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $250.28, for a total transaction of $1,011,631.76. Following the completion of the transaction, the chief executive officer directly owned 520,450 shares in the company, valued at $130,258,226. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $244.78, for a total transaction of $348,811.50. Following the completion of the transaction, the chief financial officer owned 244,905 shares of the company's stock, valued at $59,947,845.90. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 583,537 shares of company stock worth $133,720,004. Company insiders own 5.83% of the company's stock.

DoorDash Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for DoorDash (NASDAQ:DASH)

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