Focus Partners Advisor Solutions LLC Purchases 4,315 Shares of DoorDash, Inc. $DASH

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in DoorDash by 62.1%, bringing its total shares to 11,260 valued at approximately $2.77 million.
• Several large institutional investors, including Vanguard Group and AQR Capital Management, also significantly boosted their positions in DoorDash during the recent quarter, with a cumulative ownership of 90.64% among institutional holders.
• DoorDash reported a 24.9% year-over-year revenue increase of $3.28 billion for the last quarter, surpassing analysts' expectations of $3.16 billion.

Focus Partners Advisor Solutions LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 62.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,260 shares of the company's stock after purchasing an additional 4,315 shares during the period. Focus Partners Advisor Solutions LLC's holdings in DoorDash were worth $2,774,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in 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 buying an additional 8,073,882 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of DoorDash by 442.5% in 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 during the last quarter. Invesco Ltd. raised its holdings in DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after purchasing an additional 1,416,194 shares during the period. Nuveen LLC acquired a new position in shares of DoorDash during the first quarter valued at approximately $211,415,000. Finally, Deutsche Bank AG lifted its position in shares of DoorDash by 111.3% in the first 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. 90.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the 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 transaction, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares in the company, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 932,156 shares of company stock worth $233,565,302. 5.83% of the stock is owned by insiders.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $258.15 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 12 month low of $152.26 and a 12 month high of $285.50. The firm has a market capitalization of $110.28 billion, a price-to-earnings ratio of 143.42 and a beta of 1.71. The business's 50 day simple moving average is $259.75 and its 200-day simple moving average is $233.03.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DASH has been the subject of several recent research reports. BTIG Research reaffirmed a "buy" rating and issued a $315.00 price target on shares of DoorDash in a report on Monday, October 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of DoorDash in a report on Friday. Citigroup reiterated an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Jefferies Financial Group lifted their target price on DoorDash from $265.00 to $280.00 and gave the company a "hold" rating in a report on Friday, October 17th. Finally, Truist Financial lifted their target price on DoorDash from $326.00 to $340.00 and gave the company a "buy" rating in a report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $287.79.

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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