DoorDash, Inc. $DASH Shares Bought by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its holdings in DoorDash by 9.5% in Q1, acquiring an additional 5,349 shares, bringing their total ownership to 61,803 shares worth $11,296,000.
• DoorDash reported earnings of $0.65 per share in its latest quarter, outperforming analyst expectations of $0.42, with a revenue of $3.28 billion, which was also above forecasts.
• Analysts have increased their price targets for DoorDash, with several firms setting targets above $300, reflecting a strong buy sentiment in the market.

IFM Investors Pty Ltd lifted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 9.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,803 shares of the company's stock after purchasing an additional 5,349 shares during the period. IFM Investors Pty Ltd's holdings in DoorDash were worth $11,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after buying an additional 8,073,882 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after buying an additional 641,601 shares during the last quarter. Invesco Ltd. lifted its holdings in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after buying an additional 1,416,194 shares during the last quarter. Northern Trust Corp lifted its holdings in DoorDash by 38.2% during the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock worth $604,829,000 after buying an additional 915,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after buying an additional 842,637 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

DASH stock traded down $2.21 during trading on Friday, hitting $257.98. The company had a trading volume of 2,215,886 shares, compared to its average volume of 2,845,738. The firm has a market cap of $110.21 billion, a PE ratio of 143.32 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $126.90 and a 1-year high of $278.15. The firm has a 50-day moving average price of $248.21 and a 200-day moving average price of $216.06. 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) EPS. On average, analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Prabir Adarkar sold 41,881 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction that occurred 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 owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,019,042 shares of company stock worth $248,122,219. Insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DASH. Evercore ISI reissued an "outperform" rating and issued a $360.00 target price (up from $240.00) on shares of DoorDash in a report on Friday, August 8th. UBS Group boosted their target price on DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley boosted their target price on DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Zacks Research raised DoorDash to a "hold" rating in a report on Tuesday, August 12th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $325.00 target price (up from $275.00) on shares of DoorDash in a report on Thursday, August 7th. One investment 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $266.71.

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.