Ieq Capital LLC Acquires 28,698 Shares of DoorDash, Inc. $DASH

Key Points

• Ieq Capital LLC increased its stake in DoorDash, Inc. by 16.1%, acquiring an additional 28,698 shares, bringing its total ownership to 206,943 shares valued at approximately $37.8 million.
• Several analysts have raised their target prices for DoorDash, with BTIG Research setting a new target at $265.00 and Royal Bank of Canada at $300.00, indicating strong potential for growth.
• Insider transactions revealed significant sales, with CEO Tony Xu selling over 291,000 shares valued at around $69.4 million, decreasing his ownership by nearly 56%.

Ieq Capital LLC increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 16.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,943 shares of the company's stock after buying an additional 28,698 shares during the quarter. Ieq Capital LLC's holdings in DoorDash were worth $37,823,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC acquired a new stake in DoorDash during the first quarter worth approximately $7,200,000. Blair William & Co. IL grew its position in DoorDash by 12.8% during the first quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock worth $887,000 after buying an additional 551 shares in the last quarter. Brighton Jones LLC grew its position in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares in the last quarter. Flagship Harbor Advisors LLC grew its position in DoorDash by 14.4% during the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after buying an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings 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 in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the transaction, the director directly owned 22,545 shares of the company's stock, valued at $6,216,558.30. This trade represents a 68.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares of the company's stock, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 932,764 shares of company stock valued at $224,714,524 in the last quarter. 5.83% of the stock is currently owned by company insiders.

DoorDash Trading Down 0.8%

NASDAQ:DASH traded down $2.08 during trading hours on Friday, hitting $245.25. 1,966,601 shares of the company were exchanged, compared to its average volume of 3,884,752. The stock has a market capitalization of $104.77 billion, a price-to-earnings ratio of 136.25 and a beta of 1.70. 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, Inc. has a one year low of $122.32 and a one year high of $278.15. The company has a fifty day simple moving average of $245.52 and a 200 day simple moving average of $212.79.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the company earned ($0.38) EPS. Sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on DASH. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 target price (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Oppenheimer raised their target price on DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Needham & Company LLC set a $300.00 target price on DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Piper Sandler raised their target price on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.