DoorDash, Inc. $DASH Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in DoorDash by 38.2%, now owning approximately 3.3 million shares valued at $604.8 million as of the latest SEC filing.
• Several institutional investors, including Brighton Jones LLC and BI Asset Management, also raised their stakes, highlighting strong interest in DoorDash stock among large investors.
• DoorDash recently reported earnings of $0.65 per share, exceeding expectations and reflecting a 24.9% year-over-year revenue growth.

Northern Trust Corp grew its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 38.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,309,237 shares of the company's stock after purchasing an additional 915,512 shares during the period. Northern Trust Corp owned about 0.79% of DoorDash worth $604,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbour Investments Inc. increased its stake in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares during the period. SouthState Corp increased its stake in shares of DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after buying an additional 183 shares during the period. ORG Partners LLC increased its stake in shares of DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after buying an additional 202 shares during the period. Rothschild Investment LLC increased its stake in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after buying an additional 247 shares during the period. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Stock Up 0.9%

DASH traded up $2.14 on Friday, hitting $247.32. The company had a trading volume of 2,811,511 shares, compared to its average volume of 3,882,916. The stock has a fifty day moving average price of $242.93 and a 200-day moving average price of $210.92. DoorDash, Inc. has a 12-month low of $122.32 and a 12-month high of $278.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market capitalization of $105.65 billion, a price-to-earnings ratio of 137.40 and a beta of 1.70.

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

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shona L. Brown sold 1,650 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $272.00, for a total value of $448,800.00. Following the completion of the sale, the director directly owned 41,827 shares of the company's stock, valued at approximately $11,376,944. This represents a 3.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 905,179 shares of company stock worth $217,357,737 in the last three months. Insiders own 5.83% of the company's stock.

Analyst Ratings Changes

DASH has been the topic of several research reports. Stifel Nicolaus raised their price target on DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Roth Capital raised their price target on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. JMP Securities raised their price target on DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Bank of America raised their price target on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Wedbush restated a "neutral" rating on shares of DoorDash in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $263.88.

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.