Price T Rowe Associates Inc. MD Boosts Stake in DoorDash, Inc. $DASH

Price T Rowe Associates Inc. MD increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,907,970 shares of the company’s stock after purchasing an additional 641,601 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.17% of DoorDash worth $897,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Harbour Investments Inc. lifted its stake in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares during the period. SouthState Corp grew its stake in shares of DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company’s stock worth $38,000 after acquiring an additional 183 shares during the period. ORG Partners LLC raised its holdings in shares of DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company’s stock valued at $46,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC lifted its position in DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company’s stock valued at $48,000 after purchasing an additional 247 shares during the period. Finally, Mizuho Securities Co. Ltd. lifted its position in DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company’s stock valued at $55,000 after purchasing an additional 180 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Price Performance

NASDAQ DASH opened at $245.18 on Friday. The business’s fifty day moving average is $242.36 and its 200 day moving average is $210.56. DoorDash, Inc. has a fifty-two week low of $122.32 and a fifty-two week high of $278.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $104.74 billion, a PE ratio of 136.21 and a beta of 1.70.

DoorDash (NASDAQ:DASH) 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. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company earned ($0.38) earnings per share. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. Sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research reports. BMO Capital Markets boosted their target price on shares of DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. BTIG Research lifted their price objective on DoorDash from $225.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Wedbush reiterated a “neutral” rating on shares of DoorDash in a research report on Friday, August 8th. Sanford C. Bernstein increased their target price on DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Needham & Company LLC set a $300.00 price target on DoorDash and gave the company a “buy” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $263.88.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 34,167 shares of DoorDash stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $247.78, for a total transaction of $8,465,899.26. Following the transaction, the chief executive officer owned 520,450 shares of the company’s stock, valued at $128,957,101. The trade was a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the transaction, the director owned 26,070 shares of the company’s stock, valued at approximately $6,442,157.70. The trade was a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 613,776 shares of company stock worth $147,948,456 in the last 90 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.