Hsbc Holdings PLC Raises Holdings in DoorDash, Inc. $DASH

Key Points

• Hsbc Holdings PLC increased its stake in DoorDash, Inc. by 127.7% in Q1, owning approximately 663,713 shares valued at $120.4 million.
• DoorDash's recent earnings report showed an EPS of $0.65, surpassing analysts' estimates, with revenues reaching $3.28 billion.
• Analysts are optimistic about DoorDash's future, with target prices raised significantly, including a new high of $360.00 from Evercore ISI.

Hsbc Holdings PLC lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 127.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 663,713 shares of the company's stock after purchasing an additional 372,254 shares during the period. Hsbc Holdings PLC owned about 0.16% of DoorDash worth $120,376,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. GeoWealth Management LLC increased its stake in shares of DoorDash by 3.7% during the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock worth $240,000 after purchasing an additional 51 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of DoorDash by 5.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock worth $279,000 after purchasing an additional 86 shares in the last quarter. LVW Advisors LLC increased its stake in shares of DoorDash by 6.1% during the 1st quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock worth $273,000 after purchasing an additional 86 shares in the last quarter. Finally, CVA Family Office LLC increased its stake in shares of DoorDash by 12.7% during the 1st quarter. CVA Family Office LLC now owns 774 shares of the company's stock worth $141,000 after purchasing an additional 87 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

DASH opened at $248.37 on Wednesday. The company has a 50-day moving average of $241.27 and a 200-day moving average of $209.95. The company has a market capitalization of $106.10 billion, a P/E ratio of 137.98 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $122.32 and a 1-year high of $278.15. 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 released its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned ($0.38) EPS. Equities analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of the business's stock in a transaction dated Friday, July 25th. The shares were 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 of the company's stock, valued at $59,947,845.90. This represents a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $13,787,000.00. Following the sale, the director directly owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 688,999 shares of company stock worth $163,218,226. 5.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on DASH. Oppenheimer lifted their target price on shares of DoorDash from $280.00 to $310.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 target price (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Sanford C. Bernstein lifted their target price on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $360.00 price target (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $263.88.

DoorDash 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.

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