DoorDash, Inc. $DASH Shares Purchased by Perpetual Ltd

Key Points

• Perpetual Ltd increased its stake in DoorDash, Inc. by 72.4% in Q2, now owning 6,434 shares valued at approximately $1.58 million.
• Corporate insiders, including the COO and CEO, sold a combined total of 1,026,048 shares worth over $251 million in the last 90 days.
• DoorDash reported a Q2 revenue of $3.28 billion, exceeding analysts' expectations, and recorded $0.65 EPS, beating the consensus estimate of $0.42.

Perpetual Ltd raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 72.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,434 shares of the company's stock after purchasing an additional 2,703 shares during the quarter. Perpetual Ltd's holdings in DoorDash were worth $1,586,000 as of its most recent SEC filing.

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

DoorDash Price Performance

Shares of DASH traded up $3.35 during trading hours on Tuesday, reaching $266.10. The company had a trading volume of 1,121,569 shares, compared to its average volume of 4,531,708. The firm has a 50 day simple moving average of $250.63 and a 200-day simple moving average of $219.23. 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 company has a market capitalization of $113.68 billion, a price-to-earnings ratio of 148.04 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $138.59 and a 12-month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results 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 net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the firm posted ($0.38) EPS. The business's revenue was up 24.9% compared to the same quarter last year. Research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 18,034 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.16, for a total transaction of $4,385,147.44. Following the sale, the insider directly owned 75,432 shares of the company's stock, valued at $18,342,045.12. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 51,250 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $258.26, for a total transaction of $13,235,825.00. Following the sale, the chief executive officer directly owned 1,500 shares in the company, valued at $387,390. This represents a 97.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,020,055 shares of company stock worth $250,222,491 over the last three months. Company insiders own 5.83% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on DASH shares. UBS Group increased their price objective on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Roth Capital increased their price objective on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Sanford C. Bernstein upped their price objective on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Stifel Nicolaus upped their price objective on shares of DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Finally, Jefferies Financial Group upped their price objective on shares of DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a research note on Monday, August 11th. 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $268.76.

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.