Zions Bancorporation National Association UT Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Zions Bancorporation has made a new investment of approximately $265,000 in DoorDash by acquiring 1,449 shares during the first quarter.
• Major institutional investors such as Vanguard Group and Goldman Sachs have significantly increased their stakes in DoorDash, contributing to 90.64% of the stock being owned by hedge funds and other institutions.
• DoorDash reported strong earnings with a revenue increase of 24.9% year-over-year and earnings per share (EPS) surpassing analyst expectations, indicating positive growth prospects.

Zions Bancorporation National Association UT acquired a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,449 shares of the company's stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DASH. Vanguard Group Inc. grew its stake in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after buying an additional 8,073,882 shares in the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Deutsche Bank AG boosted its stake in shares of DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock worth $367,313,000 after purchasing an additional 1,058,731 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of DoorDash by 62.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,305,627 shares of the company's stock worth $421,399,000 after purchasing an additional 887,435 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after purchasing an additional 842,637 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DASH shares. Oppenheimer lifted their price target on shares of DoorDash from $280.00 to $310.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their price target on shares of DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Stifel Nicolaus set a $239.00 price target on shares of DoorDash and gave the stock a "hold" rating in a research note on Thursday, August 7th. JMP Securities lifted their price objective on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Finally, Susquehanna reiterated a "positive" rating and set a $300.00 price objective (up previously from $235.00) on shares of DoorDash in a report on Monday. Twelve research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $263.88.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the sale, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $114,868,519.50. This represents a 7.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 635,187 shares of company stock worth $147,955,804. Insiders own 5.83% of the company's stock.

DoorDash Stock Up 3.2%

Shares of NASDAQ DASH traded up $8.23 during trading hours on Tuesday, hitting $264.32. 2,901,608 shares of the stock were exchanged, compared to its average volume of 3,512,350. 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 $112.00 billion, a PE ratio of 146.85 and a beta of 1.70. The firm has a fifty day moving average price of $237.98 and a 200-day moving average price of $207.72. DoorDash, Inc. has a 12 month low of $122.32 and a 12 month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last posted 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 during 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 was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.38) EPS. On average, sell-side 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.