SC US Ttgp LTD. Has $5.70 Billion Stock Position in DoorDash, Inc. $DASH

Key Points

• SC US Ttgp LTD. has reduced its stake in DoorDash, Inc. by 0.8%, yet it remains the firm's largest investment, constituting approximately 53.8% of their portfolio, valued at over $5.7 billion.
• Insider trading saw substantial sales, with Director Andy Fang selling 50,000 shares worth $13.8 million and CEO Tony Xu selling 291,403 shares valued at approximately $69.4 million, indicating a significant decrease in their ownership.
• DoorDash reported strong financial results, with an EPS of $0.65 exceeding estimates, and a revenue growth of 24.9% year-over-year, boosting investor confidence and ratings among analysts.

SC US Ttgp LTD. cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,198,373 shares of the company's stock after selling 259,826 shares during the period. DoorDash comprises approximately 53.8% of SC US Ttgp LTD.'s investment portfolio, making the stock its biggest position. SC US Ttgp LTD. owned approximately 7.43% of DoorDash worth $5,702,127,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MetLife Investment Management LLC grew its position in DoorDash by 413.8% during the 1st quarter. MetLife Investment Management LLC now owns 101,802 shares of the company's stock worth $18,606,000 after acquiring an additional 81,988 shares during the last quarter. ICONIQ Capital LLC grew its holdings in shares of DoorDash by 17.4% during the first quarter. ICONIQ Capital LLC now owns 13,510 shares of the company's stock worth $2,469,000 after purchasing an additional 2,007 shares during the last quarter. Jump Financial LLC increased its stake in shares of DoorDash by 19.8% in the first quarter. Jump Financial LLC now owns 178,117 shares of the company's stock valued at $32,554,000 after buying an additional 29,379 shares during the period. APG Asset Management N.V. increased its stake in shares of DoorDash by 5.9% in the first quarter. APG Asset Management N.V. now owns 192,500 shares of the company's stock valued at $32,571,000 after buying an additional 10,800 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in DoorDash by 10.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,717 shares of the company's stock valued at $314,000 after buying an additional 162 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Down 1.1%

NASDAQ:DASH traded down $2.63 on Friday, hitting $244.70. The stock had a trading volume of 783,847 shares, compared to its average volume of 4,642,765. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 52 week low of $122.32 and a 52 week high of $278.15. The business's fifty day moving average is $245.03 and its 200 day moving average is $212.34. The company has a market cap of $104.53 billion, a PE ratio of 135.83 and a beta of 1.70.

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

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the sale, the director owned 22,545 shares in the company, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 291,403 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the sale, the chief executive officer directly owned 229,047 shares of the company's stock, valued at $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 932,764 shares of company stock worth $224,714,524 in the last quarter. 5.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. KeyCorp restated an "overweight" rating and issued a $325.00 price target (up from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Roth Capital lifted their target price on DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Benchmark increased their price target on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price objective on DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $263.88.

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.