4,866 Shares in DoorDash, Inc. $DASH Bought by Horizon Investments LLC

Key Points

• Horizon Investments LLC acquired a new position in DoorDash, Inc., purchasing 4,866 shares valued at approximately $889,000 during the first quarter.
• Insider trading activity includes Stanley Tang selling 45,410 shares for over $10 million and CEO Tony Xu selling 51,250 shares for over $13 million, both showing significant decreases in their holdings.
• Analysts have raised price targets for DoorDash, with Truist Financial increasing theirs from $272 to $326, reflecting a strong bullish sentiment towards the stock.

Horizon Investments LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,866 shares of the company's stock, valued at approximately $889,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mutual of America Capital Management LLC bought a new stake in DoorDash in the 1st quarter worth about $7,200,000. Blair William & Co. IL grew its stake in shares of DoorDash by 12.8% in the first quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock worth $887,000 after acquiring an additional 551 shares during the period. Brighton Jones LLC grew its stake in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares during the period. Flagship Harbor Advisors LLC raised its holdings in shares of DoorDash by 14.4% during the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after purchasing an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in DoorDash by 70.4% during the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after purchasing an additional 794 shares during the period. 90.64% of the stock is owned by institutional investors.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 51,250 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $255.89, for a total value of $13,114,362.50. Following the completion of the sale, the chief executive officer owned 520,450 shares in the company, valued at approximately $133,177,950.50. This represents a 8.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business'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 completion of the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 688,999 shares of company stock worth $163,218,226. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Stock Performance

NASDAQ DASH traded up $1.3270 on Thursday, reaching $245.1470. 1,548,125 shares of the stock were exchanged, compared to its average volume of 4,726,548. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. The firm has a market capitalization of $104.73 billion, a PE ratio of 136.09 and a beta of 1.70. The company's 50-day simple moving average is $241.79 and its two-hundred day simple moving average is $210.18. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share 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 analyst estimates of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company's revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.38) earnings per share. Analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research analyst reports. Zacks Research raised shares of DoorDash to a "hold" rating in a research report on Tuesday, August 12th. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Loop Capital reissued a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. BTIG Research raised their target price on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, Needham & Company LLC set a $300.00 price target on shares of DoorDash and gave the company a "buy" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.88.

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.