Mizuho Securities USA LLC Makes New Investment 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 acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 27,164 shares of the company's stock, valued at approximately $4,965,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised 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 purchasing an additional 8,073,882 shares during the period. Capital World Investors raised its holdings in shares of DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Deutsche Bank AG raised its holdings in shares of DoorDash by 111.3% in the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock worth $367,313,000 after purchasing an additional 1,058,731 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of DoorDash by 62.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,305,627 shares of the company's stock worth $421,399,000 after purchasing an additional 887,435 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings 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 worth $576,089,000 after purchasing an additional 842,637 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the sale, the director directly owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 62,267 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were 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 of the company's stock, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 686,437 shares of company stock worth $161,070,166. Corporate insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on DASH. Sanford C. Bernstein raised their price objective on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Piper Sandler raised their price objective on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Evercore ISI restated an "outperform" rating and issued a $360.00 price objective (up from $240.00) on shares of DoorDash in a report on Friday, August 8th. Benchmark raised their price objective on DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group raised their target price on DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $263.88.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $4.18 during mid-day trading on Thursday, reaching $250.03. 1,687,062 shares of the company traded hands, compared to its average volume of 4,758,223. DoorDash, Inc. has a fifty-two week low of $122.32 and a fifty-two week high of $278.15. The firm has a market cap of $105.95 billion, a PE ratio of 138.72 and a beta of 1.70. The stock has a fifty day simple moving average of $238.66 and a 200-day simple moving average of $208.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company posted ($0.38) EPS. The firm's quarterly revenue was up 24.9% on a year-over-year basis. Equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.