Shell Asset Management Co. Buys 2,235 Shares of DoorDash, Inc. $DASH

Key Points

• Shell Asset Management Co. increased its stake in DoorDash by 32.5%, acquiring an additional 2,235 shares, bringing its total ownership to 9,116 shares valued at approximately $2,247,000.
• Wall Street analysts have a generally positive outlook on DoorDash, with several firms raising their price targets; the average price target is now $275.27, reflecting an overall rating of "Moderate Buy."
• DoorDash reported better-than-expected quarterly earnings with $0.65 EPS against an estimated $0.42, highlighting a revenue increase of 24.9% year-over-year.

Shell Asset Management Co. boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 32.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,116 shares of the company's stock after acquiring an additional 2,235 shares during the quarter. Shell Asset Management Co.'s holdings in DoorDash were worth $2,247,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Night Squared LP bought a new stake in DoorDash in the 1st quarter valued at $2,780,000. Mutual of America Capital Management LLC bought a new stake in DoorDash in the 1st quarter valued at $7,200,000. Public Investment Fund lifted its position in DoorDash by 68.3% in the 1st quarter. Public Investment Fund now owns 821,389 shares of the company's stock valued at $150,125,000 after acquiring an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP increased its stake in DoorDash by 6.7% in the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock valued at $14,622,000 after buying an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in DoorDash in the 1st quarter valued at $29,261,000. 90.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DASH. Evercore ISI reiterated an "outperform" rating and issued a $360.00 price target (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Oppenheimer lifted their price target on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Needham & Company LLC set a $300.00 price target on shares of DoorDash and gave the company a "buy" rating in a research note on Thursday, August 7th. Sanford C. Bernstein lifted their price target on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Piper Sandler lifted their price target on shares of DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $275.27.

DoorDash Stock Up 1.5%

DoorDash stock opened at $281.05 on Thursday. The firm has a market capitalization of $120.06 billion, a PE ratio of 156.14 and a beta of 1.71. The company's 50-day moving average is $257.55 and its 200-day moving average is $225.75. DoorDash, Inc. has a fifty-two week low of $141.76 and a fifty-two week high of $285.08. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

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

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.20, for a total transaction of $8,046,000.00. The sale 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 Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total transaction of $12,180,324.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,001,054 shares of company stock worth $249,511,188 in the last ninety days. Insiders own 5.83% of the company's stock.

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.

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