AG2R LA Mondiale Gestion D Actifs Buys New Holdings in DoorDash, Inc. $DASH

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,294 shares of the company’s stock, valued at approximately $2,430,000.

Several other institutional investors also recently bought and sold shares of DASH. Vanguard Group Inc. boosted its holdings in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the period. AQR Capital Management LLC boosted its holdings in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after acquiring an additional 1,497,636 shares during the period. Invesco Ltd. boosted its holdings in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the period. Nuveen LLC purchased a new stake in DoorDash during the 1st quarter valued at about $211,415,000. Finally, Deutsche Bank AG boosted its holdings in DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock valued at $367,313,000 after acquiring an additional 1,058,731 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction that occurred on 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 approximately $224,813,943.54. This represents a 4.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 291,403 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value 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 represents a 55.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,019,042 shares of company stock worth $248,122,219 over the last 90 days. 5.83% of the stock is currently owned by insiders.

DoorDash Stock Down 0.8%

Shares of NASDAQ:DASH opened at $257.98 on Friday. DoorDash, Inc. has a 52-week low of $126.90 and a 52-week high of $278.15. The firm has a market capitalization of $110.21 billion, a P/E ratio of 143.32 and a beta of 1.70. The stock has a 50 day moving average price of $248.21 and a 200-day moving average price of $215.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (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 during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the company earned ($0.38) EPS. The business’s revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on DASH. Bank of America increased their target price on DoorDash from $230.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Wells Fargo & Company increased their price objective on DoorDash from $280.00 to $306.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Needham & Company LLC set a $300.00 price objective on DoorDash and gave the stock a “buy” rating in a report on Thursday, August 7th. UBS Group increased their price objective on DoorDash from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, DA Davidson increased their price objective on DoorDash from $190.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.