Liberty Mutual Group Asset Management Inc. Invests $1.54 Million in DoorDash, Inc. $DASH

Key Points

• Liberty Mutual Group Asset Management Inc. invested approximately $1.54 million in DoorDash during the second quarter, acquiring 6,258 shares, which now constitutes around 0.3% of its investment portfolio.
• Several leading institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have significantly increased their holdings in DoorDash, indicating strong investor interest.
• DoorDash has received a consensus rating of "Moderate Buy" from analysts, with an average price target of $281.29, reflecting positive outlooks despite recent stock performance fluctuations.

Liberty Mutual Group Asset Management Inc. purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,258 shares of the company's stock, valued at approximately $1,543,000. DoorDash comprises about 0.3% of Liberty Mutual Group Asset Management Inc.'s portfolio, making the stock its 9th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after buying an additional 8,073,882 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in DoorDash by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after buying an additional 641,601 shares during the period. Invesco Ltd. lifted its holdings in DoorDash by 41.9% in the first 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 during the period. Northern Trust Corp lifted its holdings in DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after acquiring an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in DoorDash by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after acquiring an additional 842,637 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DASH shares. UBS Group boosted their price target on DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Mizuho set a $350.00 price target on DoorDash and gave the company an "outperform" rating in a report on Monday, September 29th. Piper Sandler boosted their price target on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Needham & Company LLC set a $300.00 target price on DoorDash and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and an average price target of $281.29.

DoorDash Stock Down 1.1%

Shares of NASDAQ:DASH opened at $270.54 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $259.03 and a two-hundred day moving average of $228.13. The stock has a market cap of $115.57 billion, a P/E ratio of 150.30 and a beta of 1.71. DoorDash, Inc. has a 52-week low of $143.37 and a 52-week high of $285.08.

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

Insiders Place Their Bets

In other news, CEO Tony Xu sold 291,403 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 968,137 shares of company stock valued at $241,767,280. 5.83% of the stock is owned by company insiders.

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.

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