APG Asset Management N.V. Boosts Stock Position in DoorDash, Inc. $DASH

Key Points

• APG Asset Management N.V. increased its position in DoorDash, Inc. by 5.9% during the 1st quarter, now owning 192,500 shares valued at approximately $32.57 million.
• Several hedge funds significantly raised their stakes in DoorDash, with increases ranging from 55.6% to 1,452.9%, reflecting strong interest from institutional investors.
• DoorDash reported $3.28 billion in revenue for the last quarter, exceeding expectations and achieving a 24.9% year-over-year growth.

APG Asset Management N.V. increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,500 shares of the company's stock after purchasing an additional 10,800 shares during the period. APG Asset Management N.V.'s holdings in DoorDash were worth $32,571,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of DoorDash by 10.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,717 shares of the company's stock worth $314,000 after purchasing an additional 162 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of DoorDash by 17.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,469 shares of the company's stock valued at $451,000 after buying an additional 370 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of DoorDash by 13.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 67,080 shares of the company's stock valued at $12,260,000 after buying an additional 8,162 shares during the last quarter. Crescent Park Management L.P. boosted its position in shares of DoorDash by 1.8% during the first quarter. Crescent Park Management L.P. now owns 53,098 shares of the company's stock valued at $9,705,000 after buying an additional 914 shares during the last quarter. Finally, Allstate Corp boosted its position in shares of DoorDash by 42.5% during the first quarter. Allstate Corp now owns 12,932 shares of the company's stock valued at $2,364,000 after buying an additional 3,854 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the transaction, the director owned 26,070 shares of the company's stock, valued at $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 932,764 shares of company stock valued at $224,714,524 in the last ninety days. Corporate insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DASH shares. Wells Fargo & Company lifted their target price on DoorDash from $239.00 to $280.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Wedbush reaffirmed a "neutral" rating on shares of DoorDash in a research report on Friday, August 8th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Zacks Research raised DoorDash to a "hold" rating in a research report on Tuesday, August 12th. Finally, BTIG Research lifted their target price on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Stock Performance

Shares of DASH traded up $1.68 during mid-day trading on Thursday, hitting $247.33. The stock had a trading volume of 1,857,045 shares, compared to its average volume of 4,666,458. 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 52 week low of $122.32 and a 52 week high of $278.15. The firm has a market cap of $105.66 billion, a P/E ratio of 137.41 and a beta of 1.70. The business has a fifty day moving average price of $244.49 and a 200-day moving average price of $211.97.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company posted ($0.38) EPS. The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities research analysts expect that DoorDash, Inc. will post 2.22 EPS 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.