Public Investment Fund Purchases 333,369 Shares of DoorDash, Inc. $DASH

Key Points

• The Public Investment Fund increased its stake in DoorDash, Inc. by 68.3%, acquiring an additional 333,369 shares during the 1st quarter, bringing its total to 821,389 shares.
• DoorDash has received various price target upgrades from analysts, with a consensus target price now at $263.88 and several brokerages rating it a "buy" or "hold".
• Insiders, including COO and CEO, have sold significant shares recently; the COO sold 41,881 shares and the CEO sold 291,403 shares, indicating a decrease in their ownership stakes.

Public Investment Fund boosted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 68.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 821,389 shares of the company's stock after purchasing an additional 333,369 shares during the quarter. DoorDash makes up approximately 0.6% of Public Investment Fund's holdings, making the stock its 23rd biggest position. Public Investment Fund owned 0.20% of DoorDash worth $150,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WPG Advisers LLC purchased a new stake in DoorDash during the first quarter worth $26,000. Harbour Investments Inc. grew its position in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares in the last quarter. SouthState Corp grew its position in DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after acquiring an additional 183 shares during the period. ORG Partners LLC lifted its stake in DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after purchasing an additional 202 shares in the last quarter. Finally, Rothschild Investment LLC increased its stake in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after buying an additional 247 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DASH has been the topic of several research analyst reports. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Stifel Nicolaus lifted their target price on DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Sanford C. Bernstein increased their price target on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Royal Bank Of Canada increased their price target on shares of DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Benchmark boosted their price objective on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

Insider Buying and Selling

In related news, CEO Tony Xu sold 291,403 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 901,361 shares of company stock valued at $218,575,187. 5.83% of the stock is currently owned by company insiders.

DoorDash Stock Down 0.5%

NASDAQ DASH traded down $1.15 on Tuesday, reaching $244.10. The company had a trading volume of 2,683,546 shares, compared to its average volume of 4,638,260. DoorDash, Inc. has a 1 year low of $122.32 and a 1 year high of $278.15. The firm has a market capitalization of $104.28 billion, a PE ratio of 135.61 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. The firm has a 50-day moving average of $245.82 and a 200-day moving average of $213.06.

DoorDash (NASDAQ:DASH - Get Free Report) last issued 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. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter last year, the company posted ($0.38) earnings per share. The company's quarterly revenue was up 24.9% compared to the same quarter last year. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal 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.