Goldman Sachs Group Inc. Boosts Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Goldman Sachs Group Inc. has increased its holdings in DoorDash by 36.5% during the first quarter, now owning approximately 3.15 million shares worth about $576 million.
• DoorDash reported earnings of $0.65 per share for the most recent quarter, exceeding analysts' expectations of $0.42, with quarterly revenue increasing by 24.9% year-over-year.
• Institutional investors hold 90.64% of DoorDash's stock, indicating a strong interest from large investment entities.

Goldman Sachs Group Inc. increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 36.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,151,986 shares of the company's stock after acquiring an additional 842,637 shares during the period. Goldman Sachs Group Inc. owned about 0.75% of DoorDash worth $576,089,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. iA Global Asset Management Inc. grew its position in DoorDash by 1.9% during the first quarter. iA Global Asset Management Inc. now owns 51,883 shares of the company's stock worth $9,483,000 after buying an additional 976 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in DoorDash by 37.5% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 623 shares of the company's stock worth $114,000 after purchasing an additional 170 shares during the last quarter. Empower Advisory Group LLC raised its position in DoorDash by 13.2% during the 1st quarter. Empower Advisory Group LLC now owns 74,093 shares of the company's stock worth $13,542,000 after purchasing an additional 8,632 shares during the last quarter. Cary Street Partners Financial LLC raised its position in DoorDash by 4.6% during the 1st quarter. Cary Street Partners Financial LLC now owns 19,643 shares of the company's stock worth $3,590,000 after purchasing an additional 872 shares during the last quarter. Finally, ING Groep NV raised its position in DoorDash by 2,025.7% during the 1st quarter. ING Groep NV now owns 162,251 shares of the company's stock worth $29,655,000 after purchasing an additional 154,618 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley increased their price target on DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday. BTIG Research raised their price target on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. UBS Group lifted their target price on shares of DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday. Bank of America lifted their price target on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, BMO Capital Markets lifted their price target on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday. Twelve research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $259.18.

DoorDash Trading Down 4.4%

DASH stock traded down $11.80 during trading on Friday, reaching $259.19. The company had a trading volume of 5,340,842 shares, compared to its average volume of 3,280,438. DoorDash, Inc. has a 52 week low of $121.44 and a 52 week high of $278.15. The company has a market cap of $109.83 billion, a P/E ratio of 144.00 and a beta of 1.70. The business has a 50 day moving average of $236.11 and a 200 day moving average of $206.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 1.72.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm earned ($0.38) earnings per share. DoorDash's revenue was up 24.9% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $247.04, for a total value of $7,411,200.00. Following the sale, the director owned 22,545 shares in the company, valued at approximately $5,569,516.80. This represents a 57.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $244.78, for a total transaction of $348,811.50. Following the completion of the sale, the chief financial officer owned 244,905 shares in the company, valued at approximately $59,947,845.90. This trade represents a 0.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 583,537 shares of company stock valued at $133,720,004. 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.