Baillie Gifford & Co. Has $2.18 Billion Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Baillie Gifford & Co. has reduced its stake in DoorDash, Inc. by 9.5%, owning approximately 11.95 million shares after selling over 1.25 million shares.
• Insider trading has been notable, with Director Andy Fang selling 30,000 shares valued at $7.22 million, representing a significant decrease in ownership.
• Wall Street analysts have a consensus rating of "Moderate Buy" for DoorDash, with target prices significantly raised by several firms, including KeyCorp, which set a new target of $295.

Baillie Gifford & Co. lessened its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,950,266 shares of the company's stock after selling 1,251,093 shares during the period. DoorDash makes up 1.9% of Baillie Gifford & Co.'s portfolio, making the stock its 14th biggest position. Baillie Gifford & Co. owned approximately 2.84% of DoorDash worth $2,184,150,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Brighton Jones LLC increased its stake 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 acquiring an additional 1,807 shares during the period. GAMMA Investing LLC increased its stake 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 acquiring an additional 794 shares during the period. Flagship Harbor Advisors LLC increased its stake 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 acquiring an additional 206 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of DoorDash by 43.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,026 shares of the company's stock valued at $1,682,000 after acquiring an additional 3,013 shares during the period. Finally, Park Avenue Securities LLC increased its stake in shares of DoorDash by 9.3% during the first quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock valued at $1,831,000 after acquiring an additional 850 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of DASH stock traded down $3.64 during trading on Tuesday, hitting $242.80. 1,085,255 shares of the company were exchanged, compared to its average volume of 4,796,281. The firm has a market capitalization of $102.89 billion, a price-to-earnings ratio of 315.53 and a beta of 1.70. The business's 50-day simple moving average is $227.18 and its 200 day simple moving average is $201.75. DoorDash, Inc. has a twelve month low of $105.34 and a twelve month high of $250.71.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company's revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. On average, equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 34,167 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $236.80, for a total value of $8,090,745.60. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $123,242,560. The trade was a 6.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total transaction of $7,219,800.00. Following the completion of the sale, the director owned 22,545 shares of the company's stock, valued at $5,425,679.70. The trade was a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 471,773 shares of company stock valued at $106,001,643. Insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Truist Financial raised their price objective on shares of DoorDash from $230.00 to $272.00 and gave the company a "buy" rating in a research note on Tuesday. KeyCorp lifted their price objective on shares of DoorDash from $235.00 to $295.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Wedbush reaffirmed an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Finally, JMP Securities lifted their price objective on shares of DoorDash from $235.00 to $250.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.56.

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.