Ethic Inc. Purchases 5,228 Shares of DoorDash, Inc. $DASH

Key Points

• Ethic Inc. increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 14.9% during the 1st quarter, owning 40,225 shares valued at approximately $7.34 million.
• Several institutional investors have substantially raised their holdings in DoorDash, with 90.64% of the company's stock owned by these investors.
• DoorDash recently reported earnings per share of $0.65 for the quarter, exceeding analysts' consensus estimates, and had a record revenue of $3.28 billion.

Ethic Inc. boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 14.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,225 shares of the company's stock after purchasing an additional 5,228 shares during the quarter. Ethic Inc.'s holdings in DoorDash were worth $7,338,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in DoorDash by 25.8% during the first 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 in the last quarter. Capital World Investors raised its stake in shares of DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares during the period. Invesco Ltd. raised its stake in shares of DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of DoorDash by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after acquiring an additional 842,637 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of DoorDash by 46.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock valued at $422,036,000 after acquiring an additional 800,322 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Trading Down 2.1%

DoorDash stock traded down $5.1280 during trading hours on Wednesday, hitting $243.2420. The company had a trading volume of 5,371,040 shares, compared to its average volume of 4,739,219. The firm has a market cap of $103.91 billion, a P/E ratio of 135.18 and a beta of 1.70. 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, Inc. has a 1 year low of $122.32 and a 1 year high of $278.15. The company has a 50-day moving average price of $241.27 and a two-hundred day moving average price of $209.95.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $3.16 billion. During the same period in the prior year, the business earned ($0.38) EPS. The firm's quarterly revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares in the company, valued at $6,274,788.30. This represents a 63.53% 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, CEO Tony Xu sold 51,250 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $255.89, for a total transaction of $13,114,362.50. Following the transaction, the chief executive officer owned 520,450 shares in the company, valued at approximately $133,177,950.50. The trade was a 8.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 688,999 shares of company stock valued at $163,218,226 in the last 90 days. Insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

DASH has been the topic of several recent analyst reports. BTIG Research increased their target price on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. KeyCorp reissued an "overweight" rating and issued a $325.00 target price (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. DA Davidson increased their target price on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Raymond James Financial reissued a "strong-buy" rating and issued a $325.00 target price (up previously from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Zacks Research raised shares of DoorDash to a "hold" rating in a research note on Tuesday, August 12th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $263.88.

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.