Voya Investment Management LLC Buys 57,130 Shares of DoorDash, Inc. $DASH

Key Points

• Voya Investment Management LLC significantly increased its stake in DoorDash, Inc. by 215.5%, owning 83,640 shares valued at approximately $15.3 million.
• DoorDash reported a quarterly revenue of $3.28 billion, beating analyst estimates, with an earnings per share (EPS) of $0.65, surpassing the consensus estimate of $0.42.
• Analysts have set a consensus price target of $266.71 for DoorDash's stock, with ratings ranging from "Strong Buy" to "Hold" based on recent reports.

Voya Investment Management LLC raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 215.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,640 shares of the company's stock after buying an additional 57,130 shares during the period. Voya Investment Management LLC's holdings in DoorDash were worth $15,287,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of DoorDash during the 4th quarter worth approximately $490,000. Snowden Capital Advisors LLC purchased a new stake in shares of DoorDash during the 4th quarter worth approximately $251,000. State of Wyoming purchased a new stake in shares of DoorDash during the 4th quarter worth approximately $187,000. Finally, Tidal Investments LLC increased its stake in shares of DoorDash by 74.1% during the 4th quarter. Tidal Investments LLC now owns 21,447 shares of the company's stock worth $3,598,000 after purchasing an additional 9,126 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, August 7th. The shares were 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 directly owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the sale, the director directly owned 26,070 shares of the company's stock, valued at $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,026,048 shares of company stock valued at $251,592,950 in the last quarter. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

NASDAQ:DASH traded down $3.84 during trading hours on Wednesday, hitting $259.25. The stock had a trading volume of 3,196,526 shares, compared to its average volume of 2,789,095. The company has a 50 day simple moving average of $249.13 and a two-hundred day simple moving average of $217.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a one year low of $130.32 and a one year high of $278.15. The firm has a market capitalization of $110.75 billion, a price-to-earnings ratio of 144.03 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the firm earned ($0.38) EPS. The business's quarterly revenue was up 24.9% compared to the same quarter last year. Research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DASH. Susquehanna raised their price target on shares of DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a research note on Monday, August 11th. Zacks Research upgraded shares of DoorDash to a "hold" rating in a research note on Tuesday, August 12th. Wedbush reiterated a "neutral" rating on shares of DoorDash in a research note on Friday, August 8th. Roth Capital lifted their price objective on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Jefferies Financial Group lifted their price objective on shares of DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $268.76.

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.