FORA Capital LLC Makes New $5.56 Million Investment in DoorDash, Inc. $DASH

Key Points

• FORA Capital LLC acquired 30,417 shares of DoorDash, Inc., valued at approximately $5,559,000, indicating increasing institutional interest in the company during the first quarter.
• Several other institutional investors, including Harbour Investments and Rothschild Investment, significantly increased their stakes in DoorDash, with Rothschild's investment growing by 1,452.9%.
• DoorDash received positive analyst ratings, with target prices being raised by firms such as Morgan Stanley and JMP Securities, reflecting strong confidence in its future performance.

FORA Capital LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 30,417 shares of the company's stock, valued at approximately $5,559,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Harbour Investments Inc. raised its holdings in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares during the last quarter. SouthState Corp raised its holdings in shares of DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after purchasing an additional 183 shares during the last quarter. ORG Partners LLC raised its holdings in shares of DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. raised its holdings in shares of DoorDash by 150.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BTIG Research lifted their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Needham & Company LLC set a $300.00 price objective on shares of DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. Jefferies Financial Group boosted their target price on shares of DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Sanford C. Bernstein boosted their target price on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. One investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $263.88.

DoorDash Stock Performance

Shares of DASH stock traded down $2.08 on Friday, hitting $245.25. The company's stock had a trading volume of 1,966,601 shares, compared to its average volume of 3,884,752. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The stock's 50 day moving average is $245.52 and its 200-day moving average is $212.79. DoorDash, Inc. has a fifty-two week low of $122.32 and a fifty-two week high of $278.15. The company has a market capitalization of $104.77 billion, a PE ratio of 136.25 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released 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 business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the company posted ($0.38) earnings per share. DoorDash's revenue was up 24.9% compared to the same quarter last year. Equities research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 41,881 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 932,764 shares of company stock valued at $224,714,524. 5.83% of the stock is currently owned by 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.