15,212 Shares in DoorDash, Inc. $DASH Purchased by Night Squared LP

Key Points

• Night Squared LP acquired a new stake in DoorDash, purchasing 15,212 shares valued at approximately $2.78 million, representing 1.6% of its investment portfolio.
• Multiple hedge funds, including Public Investment Fund and Stony Point Capital LLC, increased their holdings in DoorDash during the first quarter, reflecting strong institutional interest with 90.64% of the stock owned by institutional investors.
• DoorDash reported a 24.9% revenue increase year-over-year, with earnings per share of $0.65, surpassing analysts' expectations, and has received a consensus rating of "Moderate Buy" from analysts.

Night Squared LP purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,212 shares of the company's stock, valued at approximately $2,780,000. DoorDash accounts for approximately 1.6% of Night Squared LP's investment portfolio, making the stock its 29th largest position.

Several other institutional investors have also recently made changes to their positions in DASH. Brighton Jones LLC raised its stake in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares during the period. Integrated Wealth Concepts LLC purchased a new position in DoorDash during the fourth quarter valued at approximately $237,000. Voya Investment Management LLC lifted its holdings in DoorDash by 0.5% during the fourth quarter. Voya Investment Management LLC now owns 26,510 shares of the company's stock valued at $4,447,000 after purchasing an additional 122 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of DoorDash by 5.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock worth $279,000 after purchasing an additional 86 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of DoorDash by 11.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 72,700 shares of the company's stock worth $12,195,000 after purchasing an additional 7,195 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DASH shares. Sanford C. Bernstein lifted their target price on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. BTIG Research boosted their price target on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. JMP Securities upped their price target on DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Finally, Oppenheimer increased their price objective on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. One equities 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, DoorDash has an average rating of "Moderate Buy" and an average price target of $263.88.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the 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 transaction, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the sale, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 901,361 shares of company stock worth $218,575,187 in the last 90 days. 5.83% of the stock is currently owned by insiders.

DoorDash Price Performance

DASH traded down $1.15 during trading hours on Tuesday, hitting $244.10. The company's stock had a trading volume of 2,683,546 shares, compared to its average volume of 3,668,218. The stock has a market cap of $104.28 billion, a price-to-earnings ratio of 136.25 and a beta of 1.70. The business's 50-day moving average price is $245.82 and its 200-day moving average price is $213.06. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 12 month low of $122.32 and a 12 month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned ($0.38) earnings per share. DoorDash's quarterly revenue was up 24.9% compared to the same quarter last year. Sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal 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.