AIA Group Ltd Raises Stake in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• AIA Group Ltd increased its stake in DoorDash, Inc. by 50% during the first quarter, now holding shares valued at approximately $591,000.
• Recent analyst upgrades have significantly raised DoorDash’s target prices, with Royal Bank of Canada setting it at $300 and a general consensus rating of "Moderate Buy".
• DoorDash reported a 24.9% revenue increase year-over-year with $3.28 billion in revenue for the latest quarter, surpassing analyst expectations.

AIA Group Ltd grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 50.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,235 shares of the company's stock after buying an additional 1,079 shares during the quarter. AIA Group Ltd's holdings in DoorDash were worth $591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash during the first quarter valued at about $7,200,000. Blair William & Co. IL raised its holdings in shares of DoorDash by 12.8% during the first quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock valued at $887,000 after purchasing an additional 551 shares during the period. Brighton Jones LLC raised its holdings in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares during the period. GAMMA Investing LLC raised its holdings in shares of DoorDash by 70.4% during the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after purchasing an additional 794 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of DoorDash by 14.4% during the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after purchasing an additional 206 shares during the period. Institutional investors own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 51,250 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $255.89, for a total value of $13,114,362.50. Following the sale, the chief executive officer owned 520,450 shares of the company's stock, valued at $133,177,950.50. This trade represents a 8.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares in the company, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 686,437 shares of company stock worth $161,070,166 in the last quarter. 5.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup reiterated an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. BMO Capital Markets upped their target price on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. BTIG Research upped their target price on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Sanford C. Bernstein upped their target price on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the stock a "buy" rating in a report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Price Performance

Shares of DoorDash stock traded up $0.56 on Friday, hitting $248.00. 3,084,637 shares of the company traded hands, compared to its average volume of 3,592,670. The firm's 50-day simple moving average is $239.89 and its 200 day simple moving average is $208.92. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a market cap of $105.95 billion, a P/E ratio of 137.78 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $122.32 and a 12-month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned ($0.38) EPS. The firm's quarterly revenue was up 24.9% compared to the same quarter last year. Analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.