DoorDash, Inc. $DASH Stake Boosted by Atika Capital Management LLC

Key Points

• Atika Capital Management LLC increased its stake in DoorDash by 3.0%, holding 82,785 shares valued at approximately $15 million, making it the 13th largest holding in its portfolio.
• In Q1, multiple hedge funds significantly boosted their holdings in DoorDash, with some increasing their stakes by over 700%.
• CEO Tony Xu sold over 34,000 shares of DoorDash for around $8.47 million, resulting in a 6.16% decrease in his ownership of the company.

Atika Capital Management LLC lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,785 shares of the company's stock after buying an additional 2,385 shares during the quarter. DoorDash makes up about 2.1% of Atika Capital Management LLC's investment portfolio, making the stock its 13th largest holding. Atika Capital Management LLC's holdings in DoorDash were worth $15,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Harbour Investments Inc. grew its position in shares of DoorDash by 55.6% during 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 boosted its holdings in DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after purchasing an additional 183 shares during the period. ORG Partners LLC boosted its holdings 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 purchasing an additional 202 shares during the period. Rothschild Investment LLC boosted its holdings 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 purchasing an additional 247 shares during the period. Finally, Mizuho Securities Co. Ltd. boosted its holdings 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 purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Analysts Set New Price Targets

DASH has been the subject of a number of research reports. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Wedbush reaffirmed a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. Truist Financial lifted their price objective on shares of DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Benchmark lifted 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, Piper Sandler lifted their price objective on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $263.88.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated 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 transaction, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. This represents a 55.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 905,179 shares of company stock valued at $217,357,737. 5.83% of the stock is currently owned by insiders.

DoorDash Stock Performance

DASH stock traded down $2.04 during mid-day trading on Monday, reaching $245.28. The company had a trading volume of 1,904,359 shares, compared to its average volume of 4,700,085. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $104.78 billion, a P/E ratio of 136.27 and a beta of 1.70. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. The stock's 50-day simple moving average is $242.93 and its two-hundred day simple moving average is $211.13.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating 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 posted ($0.38) earnings per share. The firm's quarterly revenue was up 24.9% compared to the same quarter last year. Research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

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.