Durable Capital Partners LP Raises Holdings in DoorDash, Inc. $DASH

Key Points

• Durable Capital Partners LP increased its stake in DoorDash, Inc. by 351.2% in the first quarter, owning over 1 million shares valued at approximately $187.6 million.
• Several large investors, including Vanguard Group and Goldman Sachs Group, have also raised their positions in DoorDash, indicating strong institutional interest in the stock.
• Equities research analysts have set new price targets for DoorDash, with estimates reaching as high as $300, reflecting a generally optimistic outlook for the company's stock performance.

Durable Capital Partners LP boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 351.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,026,649 shares of the company's stock after purchasing an additional 799,096 shares during the quarter. DoorDash makes up 1.7% of Durable Capital Partners LP's investment portfolio, making the stock its 24th biggest holding. Durable Capital Partners LP owned approximately 0.24% of DoorDash worth $187,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after acquiring an additional 641,601 shares in the last quarter. Invesco Ltd. raised its position in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Northern Trust Corp raised its position in shares of DoorDash by 38.2% during the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock worth $604,829,000 after acquiring an additional 915,512 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after acquiring an additional 842,637 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of DoorDash 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 transaction, the director owned 26,070 shares in the company, valued at $6,274,788.30. This trade 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 887,533 shares of company stock valued at $215,154,500. Company insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised their target price on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Morgan Stanley raised their target price on DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Susquehanna raised their target price on DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a research report on Monday, August 11th. Stifel Nicolaus raised their target price on DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein raised their target price on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Trading Down 0.8%

DASH opened at $245.25 on Monday. The firm has a market cap of $104.77 billion, a price-to-earnings ratio of 136.25 and a beta of 1.70. DoorDash, Inc. has a 52 week low of $122.32 and a 52 week high of $278.15. The business's 50 day moving average is $245.52 and its two-hundred day moving average is $212.84. 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 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm's revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.38) earnings per share. On average, research analysts predict that DoorDash, Inc. will post 2.22 EPS 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.

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