Newlands Management Operations LLC Acquires 17,619 Shares of DoorDash, Inc. $DASH

Key Points

• Newlands Management Operations LLC has increased its position in DoorDash, Inc. to approximately $1.29 billion, making it the firm's second-largest holding.
• Directors Andy Fang and Stanley Tang both sold significant shares, leading to notable decreases in their ownership, revealing insider transactions totaling over $24 million in sales.
• Wall Street analysts have a consensus rating of Moderate Buy for DoorDash, with a current average price target of $263.88, reflecting positive sentiment and expected growth.

Newlands Management Operations LLC increased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,068,299 shares of the company's stock after purchasing an additional 17,619 shares during the quarter. DoorDash makes up 8.8% of Newlands Management Operations LLC's investment portfolio, making the stock its 2nd largest holding. Newlands Management Operations LLC owned approximately 1.68% of DoorDash worth $1,291,873,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DASH. Vanguard Group Inc. lifted 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 purchasing an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC increased its position in DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after buying an additional 1,497,636 shares during the period. Invesco Ltd. increased its position in DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after buying an additional 1,416,194 shares during the period. Nuveen LLC bought a new position in DoorDash in the 1st quarter worth approximately $211,415,000. Finally, Deutsche Bank AG increased its position in 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 buying an additional 1,058,731 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

Shares of DASH traded down $1.93 on Friday, reaching $246.85. 2,195,370 shares of the stock traded hands, compared to its average volume of 2,950,347. The firm has a market cap of $105.45 billion, a price-to-earnings ratio of 137.14 and a beta of 1.70. 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, Inc. has a 12 month low of $122.32 and a 12 month high of $278.15. The stock's 50-day moving average price is $246.58 and its 200-day moving average price is $214.09.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion for 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 quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.38) EPS. Equities analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on DASH. Zacks Research raised DoorDash to a "hold" rating in a research report on Tuesday, August 12th. BMO Capital Markets lifted their price target on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wedbush reaffirmed a "neutral" rating on shares of DoorDash in a research report on Friday, August 8th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $325.00 price target (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Finally, Morgan Stanley boosted their price objective on DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $264.65.

Insiders Place Their Bets

In related news, insider Keith Yandell sold 18,034 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.16, for a total value of $4,385,147.44. Following the sale, the insider owned 75,432 shares of the company's stock, valued at $18,342,045.12. The trade was a 19.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total value of $11,048,707.10. The disclosure for this sale can be found here. Insiders have sold 1,019,042 shares of company stock worth $248,122,219 over the last quarter. 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.