United Services Automobile Association Buys New Holdings in DoorDash, Inc. $DASH

Key Points

• United Services Automobile Association has invested approximately $1.44 million in DoorDash, acquiring 7,890 shares of the company.
• DoorDash's recent earnings report revealed $3.28 billion in revenue for the quarter, exceeding analyst estimates and showing a significant 24.9% year-over-year increase.
• Equities research analysts have raised their price targets for DoorDash, with KeyCorp setting a new target of $325.00, reflecting growing optimism about the company's performance.

United Services Automobile Association bought a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,890 shares of the company's stock, valued at approximately $1,441,000.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after purchasing an additional 641,601 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after purchasing an additional 915,512 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of DoorDash by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after purchasing an additional 842,637 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Prabir Adarkar sold 41,881 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares of the company's stock, valued at $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,019,042 shares of company stock valued at $248,122,219 over the last quarter. 5.83% of the stock is owned by company insiders.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $2.21 during midday trading on Friday, hitting $257.98. 2,215,886 shares of the company's stock were exchanged, compared to its average volume of 4,561,936. DoorDash, Inc. has a 12-month low of $126.90 and a 12-month high of $278.15. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a market cap of $110.21 billion, a price-to-earnings ratio of 143.32 and a beta of 1.70. The business's fifty day moving average price is $247.83 and its two-hundred day moving average price is $215.48.

DoorDash (NASDAQ:DASH - Get Free Report) last issued 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. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. DoorDash's revenue was up 24.9% on a year-over-year basis. As a group, research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of recent research reports. UBS Group raised their target price on DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Royal Bank Of Canada lifted their price target on DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Zacks Research upgraded DoorDash to a "hold" rating in a report on Tuesday, August 12th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Finally, DA Davidson lifted their price target on DoorDash from $190.00 to $260.00 and gave the stock a "neutral" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $266.71.

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.