Fishman Jay A Ltd. MI Takes Position in DoorDash, Inc. $DASH

Key Points

• Fishman Jay A Ltd. MI has purchased a new position in DoorDash, acquiring 1,040 shares valued at approximately $256,000 during the second quarter.
• Institutional investors dominate DoorDash's stock ownership, holding 90.64% of the company's shares, with significant increases from firms like Vanguard and AQR Capital Management.
• Analysts remain bullish on DoorDash, with multiple firms raising their target prices, leading to a consensus target price of $275.27 and an average rating of "Moderate Buy."

Fishman Jay A Ltd. MI purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,040 shares of the company's stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. AQR Capital Management LLC grew its position in DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after buying an additional 1,497,636 shares in the last quarter. Invesco Ltd. increased its stake in 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 during the period. Nuveen LLC acquired a new position in DoorDash in the 1st quarter valued at $211,415,000. Finally, Deutsche Bank AG raised its holdings in DoorDash by 111.3% in the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after acquiring an additional 1,058,731 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BMO Capital Markets increased their target price on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. KeyCorp reissued an "overweight" rating and issued a $325.00 target price (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Evercore ISI reaffirmed an "outperform" rating and set a $360.00 price target (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. Needham & Company LLC set a $300.00 price objective on shares of DoorDash and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Citigroup restated an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $275.27.

DoorDash Price Performance

Shares of DASH opened at $271.22 on Monday. The business has a 50-day moving average of $255.52 and a 200-day moving average of $224.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71. DoorDash, Inc. has a 1 year low of $141.26 and a 1 year high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its 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 return on equity of 9.56% and a net margin of 6.57%.The business 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 posted ($0.38) earnings per share. The firm's revenue was up 24.9% on a year-over-year basis. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 34,166 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the sale, the chief executive officer directly owned 520,450 shares in the company, valued at $139,605,508. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,001,417 shares of company stock valued at $249,569,754 over the last 90 days. 5.83% of the stock is owned by company insiders.

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.

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