Mediolanum International Funds Ltd Buys 14,521 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Mediolanum International Funds Ltd increased its stake in DoorDash by 32.2% during the first quarter, now holding 59,615 shares valued at approximately $10.89 million.
• DoorDash's stock has received a range of ratings from analysts, with the current consensus rating as "Moderate Buy" and a price target of $232.12.
• Insider sales include significant transactions by Director Stanley Tang and CEO Tony Xu, collectively selling shares worth over $20 million recently.

Mediolanum International Funds Ltd increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 32.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 59,615 shares of the company's stock after acquiring an additional 14,521 shares during the period. Mediolanum International Funds Ltd's holdings in DoorDash were worth $10,886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC increased its holdings in shares of DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC grew its stake in DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after buying an additional 247 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its position in DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after acquiring an additional 180 shares during the period. Washington Trust Advisors Inc. acquired a new position in DoorDash during the 1st quarter worth $56,000. Finally, Cromwell Holdings LLC acquired a new position in DoorDash during the 1st quarter worth $58,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on DASH. Royal Bank Of Canada restated an "outperform" rating and issued a $230.00 price objective on shares of DoorDash in a report on Wednesday, May 7th. Raymond James Financial upped their price target on DoorDash from $260.00 to $275.00 and gave the company a "strong-buy" rating in a research report on Monday, July 21st. Needham & Company LLC upped their price target on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $275.00 target price (up from $220.00) on shares of DoorDash in a research report on Monday, July 21st. Finally, Wells Fargo & Company upped their target price on DoorDash from $198.00 to $239.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $235.56.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 44,244 shares of DoorDash stock in a transaction on Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the transaction, the chief executive officer owned 520,450 shares in the company, valued at $114,868,519.50. This trade represents a 7.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Prabir Adarkar sold 62,267 shares of DoorDash stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the transaction, the chief operating officer owned 942,554 shares in the company, valued at $191,027,419.18. This represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,189 shares of company stock worth $115,099,939 over the last three months. Company insiders own 5.83% of the company's stock.

DoorDash Stock Up 1.6%

Shares of DoorDash stock traded up $3.80 during trading on Wednesday, reaching $247.00. 570,360 shares of the stock were exchanged, compared to its average volume of 4,775,249. The stock's fifty day moving average is $227.94 and its 200 day moving average is $202.04. The firm has a market cap of $104.66 billion, a price-to-earnings ratio of 320.47 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $105.91 and a 1 year high of $250.71.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business posted ($0.06) earnings per share. DoorDash's revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.