Price T Rowe Associates Inc. MD Purchases 641,601 Shares of DoorDash, Inc. $DASH

Key Points

• Price T Rowe Associates Inc. MD increased its stake in DoorDash by 15% in Q1, owning nearly 4.9 million shares valued at approximately $897 million.
• Institutional investors currently hold 90.64% of DoorDash's stock, with significant increases in stakes from multiple firms during the same quarter.
• DoorDash reported better-than-expected quarterly earnings of $0.65 per share, leading to a 24.9% increase in revenue compared to the previous year.

Price T Rowe Associates Inc. MD lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,907,970 shares of the company's stock after purchasing an additional 641,601 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.17% of DoorDash worth $897,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DASH. Brighton Jones LLC boosted its position in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of DoorDash by 9.3% in the 4th quarter. NewEdge Advisors LLC now owns 6,068 shares of the company's stock worth $1,018,000 after acquiring an additional 514 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of DoorDash by 3.1% in the 4th quarter. MML Investors Services LLC now owns 22,625 shares of the company's stock worth $3,795,000 after acquiring an additional 682 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of DoorDash by 50.5% in the 4th quarter. Stifel Financial Corp now owns 32,692 shares of the company's stock worth $5,484,000 after acquiring an additional 10,968 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of DoorDash by 35.8% in the 4th quarter. Hsbc Holdings PLC now owns 291,459 shares of the company's stock worth $48,955,000 after acquiring an additional 76,867 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of DoorDash stock traded down $2.04 on Monday, reaching $245.28. 2,019,905 shares of the company traded hands, compared to its average volume of 4,704,100. DoorDash, Inc. has a 52 week low of $122.32 and a 52 week high of $278.15. The company has a 50 day moving average of $242.93 and a 200 day moving average of $211.13. The firm has a market capitalization of $104.78 billion, a PE ratio of 136.27 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share 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 firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm earned ($0.38) EPS. The company's revenue was up 24.9% compared to the same quarter last year. Equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 905,179 shares of company stock valued at $217,357,737. Company insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DASH shares. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Zacks Research upgraded shares of DoorDash to a "hold" rating in a report on Tuesday, August 12th. Wells Fargo & Company upped their target price on shares of DoorDash from $239.00 to $280.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $260.00 target price (up previously from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Finally, UBS Group upped their target price on shares of DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $263.88.

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.