Generali Asset Management SPA SGR Buys 6,672 Shares of DoorDash, Inc. $DASH

Key Points

• Generali Asset Management SPA SGR increased its holdings in DoorDash, Inc. by 56.4% in Q2, acquiring an additional 6,672 shares, bringing its total ownership to 18,494 shares valued at approximately $4.56 million.
• DoorDash reported a 24.9% increase in quarterly revenue year-over-year, with earnings per share (EPS) of $0.65, exceeding analysts' expectations of $0.42.
• Institutional investors now hold 90.64% of DoorDash's stock, indicating strong confidence in the company's market position, while analysts maintain a consensus rating of "Moderate Buy" with an average price target of $281.29.

Generali Asset Management SPA SGR raised its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 56.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,494 shares of the company's stock after acquiring an additional 6,672 shares during the quarter. Generali Asset Management SPA SGR's holdings in DoorDash were worth $4,559,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after acquiring an additional 641,601 shares during the period. Invesco Ltd. grew its holdings 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. Northern Trust Corp grew its holdings in 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 during the period. Finally, Goldman Sachs Group Inc. grew its holdings in DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after acquiring an additional 842,637 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Up 0.8%

Shares of DASH opened at $272.61 on Thursday. DoorDash, Inc. has a 52 week low of $147.31 and a 52 week high of $285.08. The firm has a market cap of $116.46 billion, a P/E ratio of 151.45 and a beta of 1.71. The firm's 50-day simple moving average is $259.32 and its 200 day simple moving average is $228.44. 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 announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $3.16 billion. During the same quarter in the prior year, the business earned ($0.38) EPS. DoorDash's quarterly revenue was up 24.9% on a year-over-year basis. On average, analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on DASH. JPMorgan Chase & Co. raised shares of DoorDash from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $175.00 to $325.00 in a report on Tuesday. Guggenheim set a $330.00 price target on shares of DoorDash in a report on Tuesday. Susquehanna boosted their price target on shares of DoorDash from $235.00 to $300.00 and gave the company a "positive" rating in a report on Monday, August 11th. Roth Capital boosted their price target on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Morgan Stanley upped their target price on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $281.29.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the transaction, the director owned 26,070 shares in the company, valued at approximately $6,442,157.70. The trade was a 63.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 968,137 shares of company stock worth $241,767,280 in the last quarter. Corporate insiders own 5.83% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.