Optas LLC Purchases 1,393 Shares of DoorDash, Inc. $DASH

Key Points

• Optas LLC increased its holdings in DoorDash, Inc. by 109.1% during Q2, acquiring an additional 1,393 shares to bring its total to 2,670 shares, valued at approximately $658,000.
• Institutional investors own 90.64% of DoorDash's stock, with other hedge funds such as Saudi Central Bank and WPG Advisers also acquiring new positions in the company.
• DoorDash's stock reported an EPS of $0.65 for the last quarter, exceeding analysts' expectations, with a revenue of $3.28 billion, reflecting a year-over-year increase of 24.9%.

Optas LLC grew its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 109.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,670 shares of the company's stock after buying an additional 1,393 shares during the quarter. Optas LLC's holdings in DoorDash were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Saudi Central Bank bought a new position in shares of DoorDash during the 1st quarter worth approximately $25,000. WPG Advisers LLC bought a new position in shares of DoorDash during the 1st quarter worth approximately $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash during the 1st quarter worth approximately $27,000. Harbour Investments Inc. increased its stake in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares during the last quarter. Finally, SouthState Corp increased its stake in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Insider Activity

In other news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the transaction, the director owned 26,070 shares of the company's stock, valued at approximately $6,442,157.70. This represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,001,054 shares of company stock worth $249,511,188. Company insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the subject of several research analyst reports. Evercore ISI restated an "outperform" rating and set a $360.00 price target (up previously from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Stifel Nicolaus raised their price target on shares of DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Zacks Research upgraded shares of DoorDash to a "hold" rating in a research note on Tuesday, August 12th. Raymond James Financial restated a "strong-buy" rating and set a $325.00 price target (up previously from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, KeyCorp restated an "overweight" rating and set a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $275.27.

DoorDash Stock Up 1.5%

DoorDash stock opened at $281.05 on Thursday. DoorDash, Inc. has a 1-year low of $141.76 and a 1-year high of $285.08. The firm has a market capitalization of $120.06 billion, a price-to-earnings ratio of 156.14 and a beta of 1.71. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $257.55 and a 200 day simple moving average of $225.75.

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

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