Citizens Financial Group Inc. RI Grows Position in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Citizens Financial Group Inc. has increased its stake in DoorDash by 9.1%, now holding 17,778 shares valued at approximately $3.25 million.
• Insider trading activity includes Director Andy Fang selling 30,000 shares and CEO Tony Xu selling 4,042 shares, indicating a decrease in their stock ownership.
• DoorDash's latest earnings report showed a quarter revenue of $3.28 billion, exceeding estimates, alongside a net margin of 3.02%.

Citizens Financial Group Inc. RI raised its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,778 shares of the company's stock after purchasing an additional 1,490 shares during the quarter. Citizens Financial Group Inc. RI's holdings in DoorDash were worth $3,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. 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 during 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 during 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 during 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 during the last quarter. Finally, Washington Trust Advisors Inc. purchased a new stake in DoorDash during the first quarter valued at about $56,000. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Thursday. Roth Capital increased 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. Piper Sandler increased their price objective on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and set a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Finally, BTIG Research increased their price objective on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Twelve research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $259.18.

Insider Transactions at DoorDash

In other news, Director Shona L. Brown sold 825 shares of DoorDash stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $250.00, for a total value of $206,250.00. Following the sale, the director directly owned 43,477 shares in the company, valued at approximately $10,869,250. This trade represents a 1.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the sale, the director owned 26,070 shares in the company, valued at approximately $6,442,157.70. This represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 583,537 shares of company stock worth $133,720,004. Corporate insiders own 5.83% of the company's stock.

DoorDash Trading Down 4.4%

DASH traded down $11.80 on Friday, hitting $259.19. 5,340,842 shares of the company were exchanged, compared to its average volume of 3,280,438. The firm has a fifty day simple moving average of $236.11 and a two-hundred day simple moving average of $206.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 2.07. DoorDash, Inc. has a 12 month low of $121.44 and a 12 month high of $278.15. The stock has a market capitalization of $109.83 billion, a PE 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the company earned ($0.38) EPS. Sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

About DoorDash

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.