Rafferty Asset Management LLC Boosts Stock Position in DoorDash, Inc. $DASH

Key Points

• Rafferty Asset Management LLC increased its stake in DoorDash by 11.8%, holding 104,850 shares valued at approximately $19.16 million as of the latest SEC filing.
• DoorDash's shares opened at $248.79, with a market cap of $106.28 billion and notable metrics such as a PE ratio of 138.22 and a return on equity of 9.56%.
• Recent insider transactions include sales by directors, with one director selling 45,410 shares for over $11 million, resulting in significant decreases in their ownership stakes.

Rafferty Asset Management LLC lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 11.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 104,850 shares of the company's stock after acquiring an additional 11,097 shares during the period. Rafferty Asset Management LLC's holdings in DoorDash were worth $19,163,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DASH. Brighton Jones LLC lifted its holdings 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 acquiring an additional 1,807 shares during the last quarter. Stifel Financial Corp raised its position in 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 purchasing an additional 10,968 shares during the period. Dark Forest Capital Management LP purchased a new position in DoorDash in the 4th quarter worth $237,000. Integrated Wealth Concepts LLC purchased a new position in DoorDash in the 4th quarter worth $237,000. Finally, Voya Investment Management LLC raised its position in DoorDash by 0.5% in the 4th quarter. Voya Investment Management LLC now owns 26,510 shares of the company's stock worth $4,447,000 after purchasing an additional 122 shares during the period. 90.64% of the stock is owned by institutional investors.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares in the company, valued at $54,556,704.93. This represents a 55.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 932,764 shares of company stock worth $224,714,524 over the last ninety days. Corporate insiders own 5.83% of the company's stock.

DoorDash Trading Down 0.8%

Shares of DASH stock traded down $2.08 during mid-day trading on Friday, reaching $245.25. The stock had a trading volume of 1,966,601 shares, compared to its average volume of 3,884,752. The stock's 50-day moving average price is $245.52 and its two-hundred day moving average price is $212.79. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15. The firm has a market capitalization of $104.77 billion, a PE ratio of 136.25 and a beta of 1.70. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH - Get Free Report) last released 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 net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the company earned ($0.38) earnings per share. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. Equities analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DASH. Cantor Fitzgerald reiterated an "overweight" rating and issued a $260.00 target price (up previously from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Zacks Research upgraded shares of DoorDash to a "hold" rating in a research report on Tuesday, August 12th. Evercore ISI reiterated an "outperform" rating and issued a $360.00 target price (up previously from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Piper Sandler lifted their target price on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Roth Capital lifted their target price on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.