Leonteq Securities AG Raises Stake in DoorDash, Inc. $DASH

Key Points

• Leonteq Securities AG increased its DoorDash stake by 261% in the first quarter, buying 10,039 additional shares and bringing its total to 13,885 shares worth about $2.1 million.
• DoorDash remains heavily owned by institutions, with hedge funds and other investors holding 90.64% of the stock. Several big funds also boosted positions, including Wellington Management, Price T Rowe, and Coatue.
• The company reported Q1 EPS of $0.42, beating expectations, while revenue rose 33.1% year over year to $4.04 billion, though that narrowly missed analyst estimates. Analysts currently rate the stock Moderate Buy with a consensus price target of $256.11.

Leonteq Securities AG grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 261.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,885 shares of the company's stock after purchasing an additional 10,039 shares during the quarter. Leonteq Securities AG's holdings in DoorDash were worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of DoorDash during the 4th quarter valued at $1,093,650,000. Wellington Management Group LLP increased its stake in DoorDash by 593.1% in the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company's stock worth $1,241,494,000 after buying an additional 4,690,744 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in DoorDash by 32.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock worth $3,161,234,000 after buying an additional 3,447,754 shares in the last quarter. Coatue Management LLC raised its holdings in DoorDash by 77.8% during the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company's stock valued at $988,668,000 after acquiring an additional 1,910,488 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in DoorDash during the fourth quarter valued at about $372,128,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Up 1.7%

Shares of DASH stock opened at $192.01 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $83.66 billion, a price-to-earnings ratio of 91.43 and a beta of 1.78. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The stock's 50-day moving average price is $165.79 and its 200-day moving average price is $180.47.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm's revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. Equities research analysts predict that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, insider Keith Yandell sold 2,643 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total transaction of $410,563.62. Following the completion of the transaction, the insider directly owned 81,106 shares in the company, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the transaction, the general counsel owned 128,216 shares of the company's stock, valued at $20,615,850.64. This represents a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 42,707 shares of company stock worth $7,113,039. Company insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

DASH has been the subject of several research analyst reports. DA Davidson cut their target price on DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. BTIG Research lowered their price target on DoorDash from $280.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, June 12th. Susquehanna lowered their price target on DoorDash from $250.00 to $225.00 and set a "positive" rating on the stock in a report on Friday, May 8th. UBS Group upped their price target on DoorDash from $206.00 to $214.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on shares of DoorDash from $198.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and a consensus price target of $256.11.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

Want to see what other hedge funds are holding DASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DoorDash, Inc. (NASDAQ:DASH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.