DoorDash, Inc. $DASH Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 31.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,056 shares of the company’s stock after acquiring an additional 4,823 shares during the period. Fifth Third Bancorp’s holdings in DoorDash were worth $4,944,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DASH. Brighton Jones LLC raised its holdings in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in DoorDash in the 4th quarter valued at about $813,000. Centaurus Financial Inc. acquired a new stake in DoorDash in the 4th quarter valued at about $137,000. Wealth Enhancement Advisory Services LLC raised its holdings in DoorDash by 234.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 38,990 shares of the company’s stock valued at $6,541,000 after acquiring an additional 27,330 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of DoorDash by 80.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 492 shares of the company’s stock worth $90,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $262.08 on Friday. 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 stock has a market capitalization of $111.96 billion, a P/E ratio of 145.60 and a beta of 1.70. The company has a 50 day moving average price of $252.27 and a 200 day moving average price of $220.42. DoorDash, Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $278.15.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.38) EPS. Equities research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the 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 of the company’s stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 990,055 shares of company stock worth $243,008,391. Company insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DASH shares. Bank of America raised their price target on shares of DoorDash from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Evercore ISI restated an “outperform” rating and set a $360.00 price target (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. Loop Capital restated a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. Piper Sandler raised their price target on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $325.00 price target (up previously from $275.00) on shares of DoorDash in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.55.

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.