Optas LLC Increases Position in DoorDash, Inc. $DASH

Optas LLC increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 109.1% in the 2nd quarter, Holdings Channel reports. The fund owned 2,670 shares of the company’s stock after buying an additional 1,393 shares during the quarter. Optas LLC’s holdings in DoorDash were worth $658,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms have recently commented on DASH. Wells Fargo & Company decreased their price objective on DoorDash from $306.00 to $301.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. Evercore ISI reiterated an “outperform” rating and issued a $360.00 price objective (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. Citigroup reiterated an “outperform” rating on shares of DoorDash in a report 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. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $325.00 price objective (up from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $275.27.

DoorDash Price Performance

DASH stock opened at $281.05 on Thursday. DoorDash, Inc. has a 1 year low of $141.76 and a 1 year high of $285.08. The company has a market cap of $120.06 billion, a P/E ratio of 156.14 and a beta of 1.71. The firm has a 50-day moving average of $257.55 and a 200 day moving average of $225.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm earned ($0.38) earnings per share. DoorDash’s revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 30,000 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $270.60, for a total value of $8,118,000.00. Following the sale, the chief operating officer owned 914,547 shares in the company, valued at approximately $247,476,418.20. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total transaction of $12,180,324.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,001,054 shares of company stock valued at $249,511,188. Insiders own 5.83% of the company’s stock.

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.