Parkwood LLC Acquires 39,712 Shares of DoorDash, Inc. $DASH

Key Points

• Parkwood LLC increased its stake in DoorDash, Inc. by 71.4%, owning 95,293 shares after purchasing an additional 39,712 shares, making DoorDash its 27th largest holding.
• DoorDash's stock has seen considerable interest from institutional investors, with several firms, including Vanguard Group and AQR Capital Management, significantly raising their holdings in the company during the first quarter.
• Despite a recent dip, analysts continue to show optimism, with a consensus rating of "Moderate Buy" and an average price target of $264.65 for DoorDash shares.

Parkwood LLC lifted its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 71.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,293 shares of the company's stock after buying an additional 39,712 shares during the period. DoorDash makes up about 1.6% of Parkwood LLC's investment portfolio, making the stock its 27th biggest position. Parkwood LLC's holdings in DoorDash were worth $17,417,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DASH. Stifel Nicolaus raised their target price on DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 target price (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Sanford C. Bernstein raised their target price on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley raised their target price on DoorDash from $275.00 to $300.00 and gave the stock an "overweight" 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 given a Hold rating to the company. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus price target of $264.65.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 17,083 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $250.50, for a total value of $4,279,291.50. Following the sale, the chief executive officer owned 1,500 shares in the company, valued at $375,750. The trade was a 91.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keith Yandell sold 18,034 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.16, for a total transaction of $4,385,147.44. Following the completion of the sale, the insider owned 75,432 shares in the company, valued at approximately $18,342,045.12. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,019,042 shares of company stock worth $248,122,219. 5.83% of the stock is owned by corporate insiders.

DoorDash Price Performance

DASH stock traded up $5.93 during mid-day trading on Tuesday, hitting $256.53. The company had a trading volume of 2,851,947 shares, compared to its average volume of 2,880,085. The company has a market capitalization of $109.59 billion, a price-to-earnings ratio of 142.52 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $122.73 and a 12-month 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 company has a 50-day moving average price of $247.03 and a 200 day moving average price of $214.74.

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

DoorDash Profile

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.