Vident Advisory LLC Has $2.58 Million Stock Position in DoorDash, Inc. $DASH

Key Points

• Vident Advisory LLC increased its stake in DoorDash, Inc. by 31.4% during Q1, owning 14,092 shares valued at approximately $2.58 million.
• Notable insider sales include CEO Tony Xu selling 291,403 shares for over $69 million, representing a 55.99% decrease in his ownership.
• Equities analysts have raised their target prices for DoorDash, with Susquehanna setting a new price target of $300, indicating growing confidence in the company’s performance.

Vident Advisory LLC boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 31.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,092 shares of the company's stock after acquiring an additional 3,371 shares during the quarter. Vident Advisory LLC's holdings in DoorDash were worth $2,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in shares of DoorDash during the first quarter worth approximately $26,000. Harbour Investments Inc. raised its position in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares during the last quarter. SouthState Corp raised its position in DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after purchasing an additional 183 shares during the last quarter. ORG Partners LLC lifted its holdings in DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after buying an additional 202 shares in the last quarter. Finally, Rothschild Investment LLC boosted its position in DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares of the company's stock, valued at $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares of the company's stock, valued at $54,556,704.93. This trade represents a 55.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 887,533 shares of company stock valued at $215,154,500. 5.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Susquehanna boosted their target price on DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a research report on Monday, August 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $260.00 price objective (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Sanford C. Bernstein upped their target price on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Wells Fargo & Company raised their target price on shares of DoorDash from $239.00 to $280.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Benchmark lifted their price target on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $263.88.

DoorDash Price Performance

DoorDash stock opened at $245.25 on Monday. 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 firm has a market capitalization of $104.77 billion, a P/E ratio of 136.25 and a beta of 1.70. The business has a 50-day moving average of $245.52 and a 200-day moving average of $212.84. DoorDash, Inc. has a 1 year low of $122.32 and a 1 year high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share 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 for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the company posted ($0.38) EPS. DoorDash's revenue for the quarter was up 24.9% on a year-over-year basis. On average, equities analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.