Kovitz Investment Group Partners LLC Acquires New Position in DoorDash, Inc. $DASH

Key Points

• Kovitz Investment Group Partners LLC made a new investment of approximately $4.38 million in DoorDash, acquiring 23,942 shares during the first quarter of the year.
• Institutional investors currently hold 90.64% of DoorDash’s stock, with significant increases in stakes reported by major firms like Vanguard and Deutsche Bank.
• DoorDash reported an EPS of $0.65 for the last quarter, exceeding analysts' expectations and showing a 24.9% increase in revenue year-over-year.

Kovitz Investment Group Partners LLC acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 23,942 shares of the company's stock, valued at approximately $4,376,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after buying an additional 8,073,882 shares during the last quarter. Capital World Investors increased its position in DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares during the period. Invesco Ltd. raised its stake in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 acquiring an additional 842,637 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of DoorDash by 46.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock worth $422,036,000 after purchasing an additional 800,322 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the sale, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares of the company's stock, valued at $6,274,788.30. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 688,999 shares of company stock valued at $163,218,226. 5.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DASH shares. UBS Group lifted their price objective on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. BMO Capital Markets boosted their price target on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Sanford C. Bernstein increased their price objective on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Benchmark raised their price objective on shares of DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Truist Financial boosted their target price on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One equities 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $263.88.

DoorDash Trading Up 0.5%

Shares of DoorDash stock traded up $1.3270 on Thursday, reaching $245.1470. 1,548,125 shares of the company were exchanged, compared to its average volume of 4,726,548. DoorDash, Inc. has a fifty-two week low of $122.32 and a fifty-two week high of $278.15. The firm has a market capitalization of $104.73 billion, a price-to-earnings ratio of 136.09 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. The stock has a fifty day moving average price of $241.79 and a 200-day moving average price of $210.18.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates 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% on a year-over-year basis. During the same quarter last year, the company posted ($0.38) EPS. On average, analysts expect that DoorDash, Inc. will post 2.22 EPS 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.