UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Position in DoorDash, Inc. $DASH

Key Points

• UBS Asset Management increased its stake in DoorDash by 7.2%, bringing their total holdings to approximately $492.9 million.
• DoorDash reported a strong quarterly performance with a 24.9% year-over-year revenue increase, reaching $3.28 billion, and exceeded EPS estimates.
• Several analysts have raised their price targets for DoorDash, with a consensus rating of "Moderate Buy" and a target price of $264.65.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,697,074 shares of the company's stock after acquiring an additional 181,213 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.64% of DoorDash worth $492,944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in DoorDash by 3.6% in the first quarter. Empowered Funds LLC now owns 8,130 shares of the company's stock worth $1,486,000 after acquiring an additional 285 shares in the last quarter. MBB Public Markets I LLC purchased a new position in DoorDash in the first quarter worth $300,000. Ascent Group LLC purchased a new position in DoorDash in the first quarter worth $317,000. Meiji Yasuda Life Insurance Co purchased a new position in DoorDash in the first quarter worth $360,000. Finally, United Services Automobile Association bought a new stake in DoorDash in the first quarter worth $1,441,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. KeyCorp reissued an "overweight" rating and issued a $325.00 price target (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Wedbush reissued a "neutral" rating on shares of DoorDash in a research note on Friday, August 8th. Loop Capital reissued a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Finally, JMP Securities boosted their price target 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. 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $266.71.

DoorDash Trading Down 0.8%

Shares of NASDAQ:DASH traded down $2.21 during midday trading on Friday, hitting $257.98. 2,215,886 shares of the stock traded hands, compared to its average volume of 2,845,738. DoorDash, Inc. has a one year low of $126.90 and a one year high of $278.15. The stock has a market capitalization of $110.21 billion, a PE ratio of 143.32 and a beta of 1.70. The business's 50 day moving average is $248.21 and its two-hundred day moving average is $215.94. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

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, topping analysts' consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. 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 prior year, the firm earned ($0.38) earnings per share. DoorDash's revenue was up 24.9% on a year-over-year basis. As a group, research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at $224,813,943.54. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 291,403 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 229,047 shares of the company's stock, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,019,042 shares of company stock valued at $248,122,219 in the last three months. Corporate insiders own 5.83% of the company's stock.

About DoorDash

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.