Raiffeisen Bank International AG Increases Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Raiffeisen Bank International AG increased its stake in DoorDash, Inc. by 283.2%, acquiring an additional 9,186 shares and holding a total of 12,430 shares valued at approximately $2.27 million.
• Analysts have raised their target prices for DoorDash, with Sanford C. Bernstein and Truist Financial setting new targets of $265 and $272 respectively, indicating strong buy signals.
• Institutional investors own 90.64% of DoorDash's stock, highlighting a significant level of confidence from major financial institutions in the company.

Raiffeisen Bank International AG grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 283.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,430 shares of the company's stock after purchasing an additional 9,186 shares during the period. Raiffeisen Bank International AG's holdings in DoorDash were worth $2,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its holdings in DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after buying an additional 2,538,160 shares in the last quarter. Invesco Ltd. lifted its position in shares of DoorDash by 20.2% in the 4th quarter. Invesco Ltd. now owns 3,383,657 shares of the company's stock valued at $567,609,000 after acquiring an additional 567,948 shares in the last quarter. Marshall Wace LLP lifted its position in shares of DoorDash by 0.6% in the 4th quarter. Marshall Wace LLP now owns 2,764,431 shares of the company's stock valued at $463,733,000 after acquiring an additional 15,952 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of DoorDash by 46.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock valued at $422,036,000 after acquiring an additional 800,322 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of DoorDash by 13.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,473,488 shares of the company's stock valued at $414,928,000 after acquiring an additional 286,800 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on shares of DoorDash from $198.00 to $214.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. KeyCorp increased their price target on shares of DoorDash from $235.00 to $295.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Raymond James Financial increased their price target on shares of DoorDash from $260.00 to $275.00 and gave the stock a "strong-buy" rating in a research note on Monday, July 21st. Sanford C. Bernstein increased their price target on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, JMP Securities increased their price target on shares of DoorDash from $235.00 to $250.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and an average target price of $235.56.

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. The trade was a 63.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the transaction, the chief executive officer directly owned 520,450 shares in the company, valued at $114,868,519.50. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 583,537 shares of company stock valued at $133,720,004 over the last quarter. 5.83% of the stock is owned by insiders.

DoorDash Stock Up 1.1%

DASH stock traded up $2.85 during midday trading on Wednesday, reaching $258.13. 5,358,275 shares of the company's stock traded hands, compared to its average volume of 2,765,802. The company has a market cap of $109.38 billion, a price-to-earnings ratio of 335.23 and a beta of 1.70. The firm's fifty day moving average price is $232.69 and its 200-day moving average price is $204.86. DoorDash, Inc. has a 52 week low of $121.18 and a 52 week high of $259.87.

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, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) earnings per share. Analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

About DoorDash

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.