AQR Capital Management LLC Buys 1,497,636 Shares of DoorDash, Inc. $DASH

Key Points

• AQR Capital Management LLC significantly increased its stake in DoorDash, Inc. by 442.5% during the 1st quarter, acquiring a total of 1,836,122 shares now valued at approximately $321.8 million.
• DoorDash reported a net margin of 6.57% and earnings per share of $0.65 for the last quarter, exceeding analysts' expectations and indicating a revenue increase of 24.9% compared to the same quarter last year.
• Insider transactions included Director Andy Fang selling 50,000 shares, reducing his ownership by 68.92%, while overall, insiders sold 901,361 shares valued at over $218 million in the last ninety days.

AQR Capital Management LLC grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 442.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,836,122 shares of the company's stock after purchasing an additional 1,497,636 shares during the quarter. AQR Capital Management LLC owned approximately 0.44% of DoorDash worth $321,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of DoorDash by 25.8% in the 1st 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. Price T Rowe Associates Inc. MD increased its stake in DoorDash by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after buying an additional 641,601 shares during the period. Invesco Ltd. increased its stake in DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after buying an additional 1,416,194 shares during the period. Northern Trust Corp increased its stake in DoorDash by 38.2% in the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after buying an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in DoorDash by 36.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after buying an additional 842,637 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Buying and Selling

In other news, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 $54,556,704.93. This represents a 55.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 41,881 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares in the company, 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. Insiders have sold a total of 1,019,042 shares of company stock valued at $248,122,219 over the last 90 days. 5.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Jefferies Financial Group increased 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. Raymond James Financial reiterated a "strong-buy" rating and set a $325.00 price objective (up previously from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Bank of America lifted their price objective on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. BTIG Research boosted their price target on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $264.65.

DoorDash Price Performance

DoorDash stock traded up $3.09 during mid-day trading on Monday, hitting $249.94. 1,419,470 shares of the company were exchanged, compared to its average volume of 4,585,322. 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 business has a fifty day moving average of $246.58 and a 200 day moving average of $214.09. DoorDash, Inc. has a 1-year low of $122.73 and a 1-year high of $278.15. The company has a market capitalization of $106.77 billion, a PE ratio of 138.57 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released 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 business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the previous year, the business posted ($0.38) earnings per share. The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share 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.