Pacer Advisors Inc. Acquires 17,078 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Pacer Advisors Inc. increased its holdings in DoorDash, Inc. by 86.2%, owning 36,892 shares valued at approximately $6.74 million as of the latest SEC filing.
• Various institutional investors, including Capital World Investors and Arrowstreet Capital, have significantly raised their stakes in DoorDash, resulting in 90.64% of the stock being owned by hedge funds and other institutions.
• DoorDash reported earnings per share of $0.44 for the last quarter, surpassing analysts' estimates, while revenue was slightly below expectations at $3.03 billion.

Pacer Advisors Inc. raised its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 86.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,892 shares of the company's stock after purchasing an additional 17,078 shares during the period. Pacer Advisors Inc.'s holdings in DoorDash were worth $6,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DASH. ORG Partners LLC grew its stake in shares of DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares during the period. Rothschild Investment LLC raised its position in DoorDash by 1,452.9% in the 1st 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 last quarter. Mizuho Securities Co. Ltd. raised its holdings in DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after acquiring an additional 180 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of DoorDash during the 1st quarter worth about $56,000. Finally, Cromwell Holdings LLC bought a new position in DoorDash during the 1st quarter worth $58,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DASH shares. Cantor Fitzgerald reissued an "overweight" rating and set a $260.00 target price (up from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Needham & Company LLC raised their price target on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wedbush reiterated an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. UBS Group lifted their target price on shares of DoorDash from $196.00 to $260.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, DA Davidson increased their price target on shares of DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and a consensus price target of $235.56.

DoorDash Stock Up 1.4%

Shares of DoorDash stock traded up $3.40 during trading hours on Thursday, reaching $251.40. 929,949 shares of the stock traded hands, compared to its average volume of 4,762,587. DoorDash, Inc. has a one year low of $105.91 and a one year high of $252.87. The firm has a market capitalization of $106.53 billion, a price-to-earnings ratio of 326.56 and a beta of 1.70. The company has a 50 day moving average price of $228.81 and a 200 day moving average price of $202.36.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The firm's revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. Sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 62,267 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the sale, the chief operating officer owned 942,554 shares in the company, valued at $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 44,244 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at $114,868,519.50. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 508,189 shares of company stock worth $115,099,939. 5.83% of the stock is currently owned by insiders.

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.