Keystone Investors PTE Ltd. Acquires Shares of 6,020 DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Keystone Investors PTE Ltd. acquired 6,020 shares of DoorDash, valued at approximately $1.1 million, marking DoorDash as the 29th biggest position in its investment portfolio.
• DoorDash reported a 24.9% year-over-year revenue increase, with quarterly earnings surpassing analyst estimates, reflecting a positive growth trajectory for the company.
• Analysts have issued a moderate buy rating for DoorDash, with price targets ranging from $210 to $280, indicating a mixed sentiment on the stock's future performance.

Keystone Investors PTE Ltd. acquired a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,020 shares of the company's stock, valued at approximately $1,100,000. DoorDash accounts for about 0.2% of Keystone Investors PTE Ltd.'s portfolio, making the stock its 29th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in DASH. Vanguard Group Inc. raised its position in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. Capital World Investors raised its position in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the last quarter. Deutsche Bank AG raised its position in DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock worth $367,313,000 after buying an additional 1,058,731 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in DoorDash by 62.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,305,627 shares of the company's stock worth $421,399,000 after buying an additional 887,435 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position 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 owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $244.78, for a total transaction of $348,811.50. Following the sale, the chief financial officer directly owned 244,905 shares of the company's stock, valued at $59,947,845.90. This represents a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 22,545 shares in the company, valued at approximately $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. Insiders sold 635,187 shares of company stock worth $147,955,804 over the last 90 days. Company insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DASH shares. Roth Capital raised their price target on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Sanford C. Bernstein raised their price objective on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Benchmark raised their price objective on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Morgan Stanley raised their price objective on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Piper Sandler raised their price objective on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Trading Up 2.9%

Shares of DoorDash stock traded up $7.45 on Tuesday, reaching $263.54. The company had a trading volume of 1,584,053 shares, compared to its average volume of 4,772,548. The firm's 50 day moving average price is $236.97 and its two-hundred day moving average price is $207.32. The firm has a market cap of $111.67 billion, a PE ratio of 146.41 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business's revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) EPS. Sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal 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.