Sequoia Financial Advisors LLC Buys 2,357 Shares of DoorDash, Inc. $DASH

Key Points

• Sequoia Financial Advisors LLC increased its stake in DoorDash by 45.6%, acquiring an additional 2,357 shares, bringing their total holdings to $1,855,000 as of the latest reporting period.
• Institutional investors dominate DoorDash's ownership, holding 90.64% of the stock, with significant increases in stakes from firms like Vanguard Group and AQR Capital Management.
• DoorDash reported earnings exceeding expectations, with a revenue of $3.28 billion for the quarter, marking a 24.9% year-over-year growth and surpassing analyst estimates.

Sequoia Financial Advisors LLC lifted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 45.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,526 shares of the company's stock after acquiring an additional 2,357 shares during the period. Sequoia Financial Advisors LLC's holdings in DoorDash were worth $1,855,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DASH. Vanguard Group Inc. boosted its stake in DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after buying an additional 8,073,882 shares during the period. AQR Capital Management LLC boosted its stake in DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after buying an additional 1,497,636 shares during the period. Invesco Ltd. boosted its stake in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after buying an additional 1,416,194 shares during the period. Nuveen LLC bought a new stake in DoorDash during the first quarter valued at $211,415,000. Finally, Deutsche Bank AG boosted its stake in DoorDash by 111.3% during the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after buying an additional 1,058,731 shares during the period. 90.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, 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 transaction, the director owned 22,545 shares in the company, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the transaction, the director owned 26,070 shares in the company, valued at approximately $6,442,157.70. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 993,105 shares of company stock worth $248,566,566 in the last ninety days. Corporate insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DASH shares. Needham & Company LLC set a $300.00 price objective on DoorDash and gave the company a "buy" rating in a research note on Thursday, August 7th. Roth Capital lifted their price objective on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Evercore ISI reissued an "outperform" rating and set a $360.00 price objective (up previously from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Guggenheim raised DoorDash to a "strong-buy" rating in a research note on Wednesday. Finally, JMP Securities lifted their price target on DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $282.47.

DoorDash Stock Down 2.2%

DASH opened at $266.67 on Friday. The company has a market cap of $113.92 billion, a P/E ratio of 148.15 and a beta of 1.71. The business's 50-day moving average price is $259.23 and its 200-day moving average price is $229.01. 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, Inc. has a 12 month low of $149.80 and a 12 month high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.38) earnings per share. On average, equities analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

DoorDash Company 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.

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