DoorDash, Inc. (NASDAQ:DASH) Shares Bought by ING Groep NV

Key Points

• ING Groep NV has significantly increased its stake in DoorDash, acquiring an additional 154,618 shares, resulting in a total ownership of 162,251 shares valued at approximately $29.7 million.
• Insider transactions include Director Shona L. Brown selling 825 shares and Director Stanley Tang selling 45,410 shares, reflecting changes in their ownership stakes.
• DoorDash has received strong ratings from analysts, with a consensus target price of $235.56 and numerous buy ratings from notable research firms.

ING Groep NV boosted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 2,025.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 162,251 shares of the company's stock after purchasing an additional 154,618 shares during the quarter. ING Groep NV's holdings in DoorDash were worth $29,655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DASH. Brighton Jones LLC lifted its position in DoorDash by 24.0% during the fourth 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. GAMMA Investing LLC raised its position in DoorDash by 70.4% in the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after acquiring an additional 794 shares during the period. Flagship Harbor Advisors LLC raised its position in DoorDash by 14.4% in the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after acquiring an additional 206 shares during the period. Park Avenue Securities LLC raised its position in DoorDash by 9.3% in the first quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock worth $1,831,000 after acquiring an additional 850 shares during the period. Finally, Sowell Financial Services LLC bought a new position in DoorDash in the first quarter worth approximately $222,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 4,042 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $250.28, for a total value of $1,011,631.76. Following the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at $130,258,226. This represents a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 825 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $250.00, for a total transaction of $206,250.00. Following the completion of the sale, the director directly owned 43,477 shares in the company, valued at $10,869,250. This trade represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 583,537 shares of company stock worth $133,720,004. Company insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DASH shares. Oppenheimer increased their price objective on shares of DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Morgan Stanley reissued an "overweight" rating and issued a $275.00 price objective (up from $220.00) on shares of DoorDash in a research note on Monday, July 21st. Wedbush reaffirmed an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. Bank of America raised their target price on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, JMP Securities lifted their price objective on shares of DoorDash from $235.00 to $250.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $235.56.

DoorDash Price Performance

NASDAQ:DASH traded up $2.85 during trading hours on Wednesday, hitting $258.13. 5,358,275 shares of the company were exchanged, compared to its average volume of 2,765,802. The stock has a market capitalization of $109.38 billion, a price-to-earnings ratio of 335.23 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $121.18 and a 52-week high of $259.87. The company's 50 day moving average price is $232.69 and its 200-day moving average price is $204.86.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. DoorDash's revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.38) EPS. On average, equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.