Dynamic Technology Lab Private Ltd Takes Position in DoorDash, Inc. $DASH

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in DoorDash, purchasing 6,127 shares valued at approximately $1.12 million.
• Multiple institutional investors, including the Public Investment Fund and Junto Capital Management, have significantly increased their positions in DoorDash in Q1, leading to a total institutional ownership of 90.64%.
• Analysts have updated their price targets for DoorDash, with some predicting a target price as high as $325, reflecting a generally positive outlook for the company's future performance.

Dynamic Technology Lab Private Ltd bought a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,127 shares of the company's stock, valued at approximately $1,120,000.

Other institutional investors have also modified their holdings of the company. Night Squared LP acquired a new stake in shares of DoorDash in the first quarter valued at about $2,780,000. Mutual of America Capital Management LLC acquired a new stake in shares of DoorDash in the first quarter valued at about $7,200,000. Ardmore Road Asset Management LP grew its position in shares of DoorDash by 6.7% in the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock valued at $14,622,000 after purchasing an additional 5,000 shares during the period. Public Investment Fund grew its position in shares of DoorDash by 68.3% in the first quarter. Public Investment Fund now owns 821,389 shares of the company's stock valued at $150,125,000 after purchasing an additional 333,369 shares during the period. Finally, Junto Capital Management LP acquired a new stake in shares of DoorDash in the first quarter valued at about $29,261,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Piper Sandler boosted their price target on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wedbush restated a "neutral" rating on shares of DoorDash in a research report on Friday, August 8th. Finally, Sanford C. Bernstein boosted their price target on shares of 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 assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $266.71.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,019,042 shares of company stock valued at $248,122,219. Company insiders own 5.83% of the company's stock.

DoorDash Trading Down 0.8%

NASDAQ:DASH traded down $2.21 on Friday, hitting $257.98. The stock had a trading volume of 2,215,886 shares, compared to its average volume of 2,845,738. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock has a market cap of $110.21 billion, a price-to-earnings ratio of 143.32 and a beta of 1.70. The company has a fifty day moving average price of $248.21 and a two-hundred day moving average price of $216.06. DoorDash, Inc. has a 1-year low of $126.90 and a 1-year high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating 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 net margin of 6.57% and a return on equity of 9.56%. DoorDash's revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) EPS. Equities research 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.