DoorDash, Inc. $DASH Shares Bought by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC significantly increased its shareholding in DoorDash by 413.8%, acquiring 81,988 shares to reach a total of 101,802 shares, valued at approximately $18.6 million.
• Several institutional investors, including ICONIQ Capital and Jump Financial, also boosted their positions in DoorDash during the first quarter, with institutional ownership now at 90.64%.
• The company's latest quarterly earnings report revealed an EPS of $0.65, surpassing analysts' expectations, with a revenue increase of 24.9% year-over-year to $3.28 billion.

MetLife Investment Management LLC increased its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 413.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,802 shares of the company's stock after purchasing an additional 81,988 shares during the period. MetLife Investment Management LLC's holdings in DoorDash were worth $18,606,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings 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 worth $7,200,642,000 after buying an additional 8,073,882 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after acquiring an additional 641,601 shares in the last quarter. Invesco Ltd. increased its stake in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Northern Trust Corp raised its position in DoorDash by 38.2% during the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after purchasing an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of DoorDash by 36.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after purchasing an additional 842,637 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

DASH has been the topic of several analyst reports. Oppenheimer boosted their target price on DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Wells Fargo & Company increased their target price on shares of DoorDash from $239.00 to $280.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Jefferies Financial Group lifted their price target on shares of DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Finally, Loop Capital reiterated a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Stock Up 0.7%

Shares of DASH traded up $1.68 during mid-day trading on Thursday, hitting $247.33. The company's stock had a trading volume of 1,858,068 shares, compared to its average volume of 4,666,459. The firm has a market capitalization of $105.66 billion, a price-to-earnings ratio of 137.41 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 current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The company's 50-day moving average is $244.49 and its 200-day moving average is $211.97.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The company 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 was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.38) earnings per share. On average, equities research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 291,403 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares in the company, valued at $54,556,704.93. This trade represents a 55.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 41,881 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 932,764 shares of company stock valued at $224,714,524 in the last 90 days. Corporate insiders own 5.83% of the company's stock.

DoorDash Company 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.