DoorDash, Inc. $DASH Shares Purchased by CHURCHILL MANAGEMENT Corp

Key Points

• CHURCHILL MANAGEMENT Corp significantly increased its holdings in DoorDash by 492.9%, acquiring an additional 42,961 shares in the 2nd quarter, bringing its total to 51,677 shares valued at $12.74 million.
• Analysts are bullish on DoorDash, with most ratings being a "Buy" or "Strong Buy," and several firms have raised their price targets to between $300.00 and $335.00.
• DoorDash reported earnings of $0.65 per share, surpassing estimates and showing a revenue increase of 24.9% year-over-year, indicating strong financial performance.

CHURCHILL MANAGEMENT Corp grew its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 492.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,677 shares of the company's stock after acquiring an additional 42,961 shares during the quarter. CHURCHILL MANAGEMENT Corp's holdings in DoorDash were worth $12,739,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of DASH. Vanguard Group Inc. increased its stake in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. AQR Capital Management LLC grew its holdings in DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after buying an additional 1,497,636 shares in the last quarter. Invesco Ltd. increased its position 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 acquiring an additional 1,416,194 shares during the period. Nuveen LLC bought a new stake in DoorDash during the 1st quarter valued at $211,415,000. Finally, Deutsche Bank AG boosted its position in DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock worth $367,313,000 after acquiring an additional 1,058,731 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James Financial reissued a "strong-buy" rating and set a $325.00 price target (up from $275.00) on shares of DoorDash in a report on Thursday, August 7th. JMP Securities raised their target price on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Susquehanna upped 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. KeyCorp reiterated an "overweight" rating and issued a $325.00 price objective (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Finally, Truist Financial boosted their target price on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $275.42.

DoorDash Price Performance

NASDAQ DASH opened at $267.64 on Thursday. DoorDash, Inc. has a 1 year low of $140.62 and a 1 year high of $278.15. The business's fifty day moving average is $254.56 and its two-hundred day moving average is $222.77. The stock has a market capitalization of $114.34 billion, a P/E ratio of 148.69 and a beta of 1.71. 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company's revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted ($0.38) EPS. On average, research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 51,250 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $258.26, for a total transaction of $13,235,825.00. Following the sale, the chief executive officer directly owned 1,500 shares of the company's stock, valued at $387,390. The trade was a 97.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Prabir Adarkar sold 30,000 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $270.60, for a total value of $8,118,000.00. Following the completion of the sale, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $247,476,418.20. This trade represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 891,841 shares of company stock valued at $220,178,742 over the last three months. 5.83% of the stock is owned by 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.

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