Vestmark Advisory Solutions Inc. Acquires 2,103 Shares of DoorDash, Inc. $DASH

Key Points

• Vestmark Advisory Solutions Inc. increased its shares in DoorDash, Inc. by 90.1% during the first quarter, resulting in a total value of $811,000 in holdings.
• Multiple hedge funds have also significantly raised their positions in DoorDash, with one firm increasing holdings by 1,452.9% during the same period.
• DoorDash reported earnings of $0.65 per share for the quarter, surpassing estimates and indicating a revenue increase of 24.9% year-over-year.

Vestmark Advisory Solutions Inc. boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 90.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,438 shares of the company's stock after acquiring an additional 2,103 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in DoorDash were worth $811,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DASH. Harbour Investments Inc. increased its stake in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares during the last quarter. SouthState Corp increased its stake in DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after purchasing an additional 183 shares during the last quarter. ORG Partners LLC increased its stake in DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC increased its stake in DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. increased its stake in DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DASH has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Zacks Research upgraded shares of DoorDash to a "hold" rating in a research report on Tuesday, August 12th. Bank of America upped their price target on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Raymond James Financial restated a "strong-buy" rating and set a $325.00 price target (up previously from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Finally, Benchmark upped their price target on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One research 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $263.88.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 51,250 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $255.89, for a total transaction of $13,114,362.50. Following the transaction, the chief executive officer owned 520,450 shares in the company, valued at $133,177,950.50. This trade represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of 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. Over the last quarter, insiders have sold 613,776 shares of company stock worth $147,948,456. Insiders own 5.83% of the company's stock.

DoorDash Trading Up 0.8%

DASH stock traded up $1.8980 during mid-day trading on Friday, reaching $247.0780. 1,665,333 shares of the stock traded hands, compared to its average volume of 4,713,282. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15. The company has a market cap of $105.55 billion, a P/E ratio of 137.30 and a beta of 1.70. The stock's fifty day moving average is $242.36 and its 200-day moving average is $210.56.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) EPS. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.