Ethic Inc. Grows Position in DoorDash, Inc. $DASH

Key Points

• Ethic Inc. increased its holdings in DoorDash by 24.0% during the second quarter, bringing their total to nearly $12 million in value.
• Institutional investors collectively own 90.64% of DoorDash's stock, with several major firms like Vanguard and Goldman Sachs making significant increases to their positions.
• Recently, DoorDash reported a quarterly earnings per share (EPS) of $0.65, exceeding analyst expectations and marking a 24.9% revenue increase year-over-year.

Ethic Inc. lifted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 24.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,862 shares of the company's stock after buying an additional 9,637 shares during the period. Ethic Inc.'s holdings in DoorDash were worth $12,082,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in DoorDash by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after buying an additional 641,601 shares during the period. Invesco Ltd. boosted its position in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Northern Trust Corp raised its stake 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. boosted its position in shares of DoorDash by 36.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after purchasing an additional 842,637 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DASH. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Royal Bank Of Canada raised their price target 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. BTIG Research reissued a "buy" rating and set a $315.00 target price on shares of DoorDash in a research note on Monday. Stifel Nicolaus increased their price target on DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Finally, Evercore ISI restated an "outperform" rating and set a $360.00 price target (up previously from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.26.

DoorDash Trading Down 0.5%

Shares of DASH stock opened at $260.53 on Wednesday. DoorDash, Inc. has a fifty-two week low of $150.26 and a fifty-two week high of $285.50. The company has a 50 day moving average price of $259.45 and a 200 day moving average price of $231.17. The stock has a market capitalization of $111.30 billion, a P/E ratio of 144.63 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter last year, the company posted ($0.38) EPS. The firm's revenue was up 24.9% compared to the same quarter last year. Equities research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the company's stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total value of $346,837.50. Following the completion of the transaction, the director owned 37,252 shares in the company, valued at approximately $10,336,312.44. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total value of $12,180,324.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 993,105 shares of company stock worth $248,566,566. 5.83% of the stock is currently owned by corporate insiders.

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.

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