Mizuho Securities USA LLC Invests $4.97 Million in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Mizuho Securities USA LLC has invested approximately $4.97 million in DoorDash by acquiring 27,164 shares, signifying growing institutional interest in the company.
• DoorDash recently reported a 24.9% increase in quarterly revenue compared to the previous year, with earnings per share of $0.65, surpassing analysts' expectations.
• Several analysts have raised their price targets on DoorDash, with JMP Securities increasing their target from $250 to $335, reflecting a positive outlook on the stock.

Mizuho Securities USA LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,164 shares of the company's stock, valued at approximately $4,965,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. Capital World Investors increased its position in shares of DoorDash by 26.4% during the fourth 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 last quarter. Deutsche Bank AG increased its position in shares of DoorDash by 111.3% during the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after acquiring an additional 1,058,731 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of DoorDash by 62.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,305,627 shares of the company's stock valued at $421,399,000 after acquiring an additional 887,435 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of DoorDash by 36.5% during 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 last quarter. Institutional investors own 90.64% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DASH. KeyCorp reaffirmed an "overweight" rating and set a $325.00 price target (up from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $260.00 target price (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Raymond James Financial restated a "strong-buy" rating and issued a $325.00 target price (up from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Bank of America upped their price target on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Trading Down 3.8%

Shares of NASDAQ DASH traded down $10.12 during midday trading on Wednesday, reaching $254.20. The company had a trading volume of 4,342,493 shares, compared to its average volume of 4,777,895. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. 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 firm's fifty day moving average price is $237.98 and its 200-day moving average price is $207.72. The stock has a market cap of $107.71 billion, a PE ratio of 141.22 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its 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. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the company posted ($0.38) EPS. DoorDash's revenue for the quarter was up 24.9% on a year-over-year basis. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 44,244 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the transaction, the chief executive officer owned 520,450 shares of the company's stock, valued at $114,868,519.50. This represents a 7.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares of the company's stock, valued at $6,274,788.30. The trade was a 63.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 635,187 shares of company stock worth $147,955,804. 5.83% of the stock is currently owned by company insiders.

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.