ICONIQ Capital LLC Grows Position in DoorDash, Inc. $DASH

Key Points

• ICONIQ Capital LLC increased its holdings in DoorDash, Inc. by 17.4% during the first quarter, owning a total of 13,510 shares valued at approximately $2.47 million.
• Insider transactions reveal significant sales, with CEO Tony Xu selling 291,403 shares and Director Andy Fang selling 50,000 shares, indicating a substantial decrease in their ownership positions.
• DoorDash reported impressive financial results, with earnings per share of $0.65 for the last quarter, surpassing expectations, and a year-over-year revenue growth of 24.9%.

ICONIQ Capital LLC increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,510 shares of the company's stock after acquiring an additional 2,007 shares during the quarter. ICONIQ Capital LLC's holdings in DoorDash were worth $2,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mutual of America Capital Management LLC bought a new position in DoorDash during the 1st quarter worth approximately $7,200,000. Blair William & Co. IL lifted its stake in shares of DoorDash by 12.8% in the 1st quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock valued at $887,000 after purchasing an additional 551 shares during the period. Brighton Jones LLC lifted its stake in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of DoorDash by 14.4% in the 1st 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 period. Finally, GAMMA Investing LLC lifted its stake in shares of DoorDash by 70.4% in the 1st 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 currently owned by institutional investors.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research analyst reports. UBS Group raised their target price on DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. BTIG Research raised their target price on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Citigroup reiterated an "outperform" rating on shares of DoorDash in a research note on Thursday, August 7th. Finally, Sanford C. Bernstein lifted their price objective on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

DoorDash Stock Down 1.4%

Shares of DoorDash stock traded down $3.53 on Friday, reaching $243.81. The company's stock had a trading volume of 744,977 shares, compared to its average volume of 4,642,335. The company has a market capitalization of $104.15 billion, a price-to-earnings ratio of 135.24 and a beta of 1.70. The firm's fifty day simple moving average is $245.03 and its two-hundred day simple moving average is $212.34. DoorDash, Inc. has a 52 week low of $122.32 and a 52 week high of $278.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 EPS 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 return on equity of 9.56% and a net margin of 6.57%.The company's quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) EPS. Equities analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 1,650 shares of DoorDash stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $272.00, for a total value of $448,800.00. Following the transaction, the director owned 41,827 shares in the company, valued at $11,376,944. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 932,764 shares of company stock valued at $224,714,524 over the last ninety days. 5.83% of the stock is 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.