DoorDash, Inc. $DASH Shares Acquired by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC increased its stake in DoorDash, Inc. by 24.9%, owning over $4.3 million worth of shares after acquiring an additional 3,495 shares in the second quarter.
• Analysts have issued optimistic ratings for DoorDash, with target prices ranging from $225 to $360, reflecting a consensus "Moderate Buy" rating with an average target price of $266.71.
• DoorDash reported significant financial growth, with a 24.9% year-over-year increase in revenue, posting $3.28 billion for the quarter and exceeding earnings expectations.

Pallas Capital Advisors LLC lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 24.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,557 shares of the company's stock after buying an additional 3,495 shares during the period. Pallas Capital Advisors LLC's holdings in DoorDash were worth $4,328,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after buying an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after buying an additional 1,497,636 shares in the last quarter. Invesco Ltd. lifted its position in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after buying an additional 1,416,194 shares in the last quarter. Nuveen LLC purchased a new position in shares of DoorDash during the 1st quarter valued at about $211,415,000. Finally, Deutsche Bank AG lifted its position in shares of DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after buying an additional 1,058,731 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 51,250 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $258.26, for a total value of $13,235,825.00. Following the completion of the sale, the chief executive officer directly owned 1,500 shares in the company, valued at approximately $387,390. This represents a 97.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keith Yandell sold 18,034 shares of the company'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 completion of the sale, the insider owned 75,432 shares of the company's stock, valued at $18,342,045.12. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,026,048 shares of company stock worth $251,592,950. 5.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

DASH has been the topic of a number of analyst reports. Susquehanna lifted their price objective on DoorDash from $235.00 to $300.00 and gave the company a "positive" rating in a research report on Monday, August 11th. Zacks Research upgraded DoorDash to a "hold" rating in a research report on Tuesday, August 12th. BTIG Research lifted their target price on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Bank of America raised their price target on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Benchmark lifted their price objective on DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a research note 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.76.

DoorDash Trading Down 1.0%

DASH traded down $2.78 during trading hours on Friday, reaching $265.29. 10,684,224 shares of the company's stock traded hands, compared to its average volume of 4,559,979. The firm has a 50-day moving average price of $249.73 and a 200 day moving average price of $217.71. DoorDash, Inc. has a 52-week low of $136.53 and a 52-week high of $278.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $113.33 billion, a PE ratio of 147.38 and a beta of 1.70.

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