Credit Agricole S A Raises Stock Position in DoorDash, Inc. $DASH

Key Points

• Credit Agricole S A increased its stake in DoorDash by 213.0%, now holding 127,403 shares valued at approximately $23.29 million.
• Recent analyst ratings for DoorDash show a strong bullish sentiment, with a target price consensus increase, reaching as high as $300.00 from $235.00.
• DoorDash's latest earnings report revealed an EPS of $0.65, surpassing expectations, with revenue growth of 24.9% year-over-year, totaling $3.28 billion.

Credit Agricole S A grew its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 213.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,403 shares of the company's stock after acquiring an additional 86,700 shares during the period. Credit Agricole S A's holdings in DoorDash were worth $23,285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. raised its stake in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after buying an additional 70 shares in the last quarter. SouthState Corp raised its stake in DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after buying an additional 183 shares in the last quarter. ORG Partners LLC raised its stake in DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after buying an additional 202 shares in the last quarter. Rothschild Investment LLC raised its stake in DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after buying an additional 247 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. raised its stake in DoorDash by 150.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after buying an additional 180 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Shona L. Brown sold 1,650 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $272.00, for a total transaction of $448,800.00. Following the sale, the director owned 41,827 shares in the company, valued at $11,376,944. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 291,403 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the sale, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 905,179 shares of company stock worth $217,357,737. Corporate insiders own 5.83% of the company's stock.

DoorDash Stock Up 0.9%

Shares of NASDAQ:DASH traded up $2.14 during trading on Friday, reaching $247.32. 2,811,511 shares of the stock traded hands, compared to its average volume of 3,882,916. The stock has a 50-day moving average of $242.93 and a two-hundred day moving average of $210.92. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $105.66 billion, a P/E ratio of 137.40 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, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the prior year, the company posted ($0.38) earnings per share. The business's revenue for the quarter was up 24.9% on a year-over-year basis. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Loop Capital reissued a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. DA Davidson increased their price target on shares of DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Roth Capital increased their price target on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Benchmark upped their price objective on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, BTIG Research upped their price objective on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and a consensus target price of $263.88.

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.