DoorDash, Inc. (NASDAQ:DASH) Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in DoorDash by 6.0%, owning 827,692 shares valued at approximately $151.2 million as of the latest quarter.
• DoorDash reported a quarterly EPS of $0.65, surpassing estimates and reflecting a 24.9% revenue increase compared to the same quarter last year.
• Several analysts have raised their price targets for DoorDash, with Oppenheimer setting a new target of $310, suggesting positive market sentiment around the stock.

Russell Investments Group Ltd. raised its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 827,692 shares of the company's stock after purchasing an additional 46,681 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of DoorDash worth $151,247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares in the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Invesco Ltd. boosted its stake in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after acquiring an additional 842,637 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of DoorDash by 0.6% during the 4th quarter. Marshall Wace LLP now owns 2,764,431 shares of the company's stock worth $463,733,000 after acquiring an additional 15,952 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their price target on shares of DoorDash from $230.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 price target (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. DA Davidson raised their price target on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Benchmark raised their price target on shares of DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, BTIG Research raised their price target on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $263.88.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $244.78, for a total transaction of $348,811.50. Following the completion of the transaction, the chief financial officer directly owned 244,905 shares of the company's stock, valued at $59,947,845.90. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Shona L. Brown sold 1,650 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $272.00, for a total transaction of $448,800.00. Following the transaction, the director directly owned 41,827 shares of the company's stock, valued at $11,376,944. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 686,437 shares of company stock valued at $161,070,166. 5.83% of the stock is owned by insiders.

DoorDash Stock Performance

NASDAQ DASH traded down $10.12 during trading hours on Wednesday, hitting $254.20. The company had a trading volume of 4,378,093 shares, compared to its average volume of 3,483,383. The business has a 50 day moving average of $238.66 and a 200-day moving average of $208.04. DoorDash, Inc. has a 1-year low of $122.32 and a 1-year high of $278.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $107.71 billion, a PE ratio of 141.22 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its 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 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the prior year, the company earned ($0.38) earnings per share. The business's revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current 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.