DoorDash, Inc. $DASH Stock Position Raised by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in DoorDash by 160.8% during the first quarter, now owning 84,444 shares valued at approximately $15.4 million.
• DoorDash's quarterly earnings saw an EPS of $0.65, exceeding expectations, with revenue reaching $3.28 billion, a 24.9% increase year-over-year.
• Several analysts have recently raised their price targets for DoorDash, with Wells Fargo increasing its target from $239 to $280, reflecting a generally positive outlook on the stock.

Trexquant Investment LP increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 160.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,444 shares of the company's stock after buying an additional 52,063 shares during the quarter. Trexquant Investment LP's holdings in DoorDash were worth $15,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the period. Invesco Ltd. grew its stake in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after buying an additional 1,416,194 shares during the last quarter. Nuveen LLC acquired a new stake in DoorDash during the 1st quarter worth $211,415,000. Deutsche Bank AG lifted its position in DoorDash by 111.3% in the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after acquiring an additional 1,058,731 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of DoorDash by 38.2% during the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock worth $604,829,000 after purchasing an additional 915,512 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

NASDAQ DASH traded down $1.76 during trading hours on Tuesday, reaching $243.49. The stock had a trading volume of 1,912,676 shares, compared to its average volume of 4,633,235. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15. The stock has a market cap of $104.02 billion, a P/E ratio of 135.52 and a beta of 1.70. The stock has a fifty day moving average of $245.82 and a 200 day moving average of $213.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the company posted ($0.38) earnings per share. DoorDash's revenue for the quarter was up 24.9% on a year-over-year basis. Sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Raymond James Financial reiterated a "strong-buy" rating and issued a $325.00 target price (up previously from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Bank of America lifted their target price on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. JMP Securities lifted their target price on shares of DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Finally, DA Davidson upped 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and an average price target of $263.88.

Insider Buying and Selling at DoorDash

In other news, Director Shona L. Brown sold 1,650 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $272.00, for a total value of $448,800.00. Following the completion of the transaction, the director directly owned 41,827 shares of the company's stock, valued at $11,376,944. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction on Monday, August 25th. The shares were sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the sale, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. This represents a 4.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 901,361 shares of company stock worth $218,575,187. 5.83% of the stock is currently owned by corporate insiders.

DoorDash 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.