Integrated Quantitative Investments LLC Invests $1.09 Million in DoorDash, Inc. $DASH

Integrated Quantitative Investments LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 4,426 shares of the company’s stock, valued at approximately $1,091,000.

Other large investors have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI grew its stake in shares of DoorDash by 43.7% in the second quarter. Citizens Financial Group Inc. RI now owns 25,539 shares of the company’s stock worth $6,296,000 after purchasing an additional 7,761 shares in the last quarter. Keyvantage Wealth LLC bought a new stake in shares of DoorDash during the second quarter valued at about $210,000. Cetera Investment Advisers lifted its holdings in DoorDash by 45.2% in the second quarter. Cetera Investment Advisers now owns 26,425 shares of the company’s stock worth $6,514,000 after purchasing an additional 8,228 shares during the period. Advisory Resource Group grew its position in DoorDash by 0.8% in the 2nd quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock valued at $1,423,000 after buying an additional 48 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in DoorDash by 8.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 84,090 shares of the company’s stock valued at $20,729,000 after buying an additional 6,506 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DASH. BMO Capital Markets upped their price target on shares of DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Evercore ISI restated an “outperform” rating and issued a $360.00 target price (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. UBS Group decreased their price target on DoorDash from $316.00 to $241.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. DA Davidson reissued a “neutral” rating and issued a $260.00 price objective on shares of DoorDash in a research note on Thursday, November 6th. Finally, Wedbush raised DoorDash from a “neutral” rating to an “outperform” rating and raised their target price for the company from $160.00 to $260.00 in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $279.00.

Insider Activity

In other news, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares of the company’s stock, valued at $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. This represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 791,110 shares of company stock valued at $196,549,692. Corporate insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $206.96 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $89.20 billion, a price-to-earnings ratio of 105.06 and a beta of 1.70. The stock’s fifty day simple moving average is $254.14 and its 200 day simple moving average is $238.14. DoorDash, Inc. has a 52-week low of $155.40 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.