Townsquare Capital LLC Boosts Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Townsquare Capital LLC increased its stake in DoorDash, Inc. by 26.6%, now owning 8,039 shares valued at $1,469,000.
• DoorDash's recent earnings report revealed $3.28 billion in revenue, surpassing estimates and marking a 24.9% increase year-over-year.
• Multiple brokerages have raised their target prices for DoorDash, with Evercore ISI setting a new target of $360.00, reflecting an optimistic outlook on the company.

Townsquare Capital LLC boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 26.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,039 shares of the company's stock after buying an additional 1,690 shares during the quarter. Townsquare Capital LLC's holdings in DoorDash were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mutual of America Capital Management LLC purchased a new stake in shares of DoorDash during the first quarter valued at $7,200,000. Blair William & Co. IL boosted its stake in shares of DoorDash by 12.8% during the first quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock valued at $887,000 after purchasing an additional 551 shares during the period. Brighton Jones LLC boosted its stake in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares during the period. GAMMA Investing LLC boosted its stake in shares of DoorDash by 70.4% during the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after purchasing an additional 794 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of DoorDash by 14.4% during the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after purchasing an additional 206 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DASH. Benchmark boosted their target price 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. Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the company a "buy" rating in a research note on Thursday, August 7th. BTIG Research boosted their target price 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. Evercore ISI reissued an "outperform" rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Finally, Stifel Nicolaus upped their price objective on shares of DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Stock Performance

DASH opened at $254.20 on Thursday. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a market cap of $107.72 billion, a P/E ratio of 141.22 and a beta of 1.70. The firm's 50-day moving average price is $238.66 and its 200-day moving average price is $208.04.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company posted ($0.38) earnings per share. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Shona L. Brown sold 1,650 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $272.00, for a total value of $448,800.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the sale, the director directly owned 26,070 shares in the company, valued at $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 686,437 shares of company stock worth $161,070,166. Company 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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