Invesco Ltd. Has $877.27 Million Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Invesco Ltd. increased its stake in DoorDash by 41.9%, now owning approximately 4.8 million shares valued at around $877 million.
• Institutional investors hold 90.64% of DoorDash's stock, indicating strong confidence from major financial firms.
• Wall Street analysts have raised their price targets for DoorDash, with a consensus target price of $259.18 and a majority rating it as a "Moderate Buy."

Invesco Ltd. lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 41.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,799,851 shares of the company's stock after acquiring an additional 1,416,194 shares during the period. Invesco Ltd. owned 1.14% of DoorDash worth $877,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DASH. Mizuho Securities USA LLC purchased a new stake in DoorDash in the first quarter valued at approximately $4,965,000. Frank Rimerman Advisors LLC acquired a new position in shares of DoorDash in the first quarter valued at approximately $237,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of DoorDash in the first quarter valued at approximately $59,087,000. Townsquare Capital LLC increased its holdings in shares of DoorDash by 26.6% in the first quarter. Townsquare Capital LLC now owns 8,039 shares of the company's stock valued at $1,469,000 after purchasing an additional 1,690 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new position in DoorDash during the first quarter worth $265,000. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Price Performance

DASH traded up $8.23 during trading on Tuesday, reaching $264.32. The stock had a trading volume of 2,901,608 shares, compared to its average volume of 3,512,350. DoorDash, Inc. has a 1-year low of $122.32 and a 1-year high of $278.15. The stock has a 50 day moving average of $237.98 and a two-hundred day moving average of $207.72. The firm has a market capitalization of $112.00 billion, a price-to-earnings ratio of 146.85 and a beta of 1.70. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm earned ($0.38) EPS. The company's quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 4,042 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $250.28, for a total transaction of $1,011,631.76. Following the transaction, the chief executive officer directly owned 520,450 shares of the company's stock, valued at approximately $130,258,226. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 635,187 shares of company stock worth $147,955,804. 5.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DASH. KeyCorp reiterated an "overweight" rating and issued a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Piper Sandler raised their price target on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Loop Capital restated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. DA Davidson raised their price target on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Roth Capital increased their price objective on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $263.88.

About DoorDash

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.