Dragoneer Investment Group LLC Acquires 1,246,567 Shares of DoorDash, Inc. (NASDAQ:DASH)

Dragoneer Investment Group LLC increased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 77.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,847,537 shares of the company’s stock after purchasing an additional 1,246,567 shares during the quarter. DoorDash makes up 5.9% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 6th biggest holding. Dragoneer Investment Group LLC’s holdings in DoorDash were worth $309,755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in shares of DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after purchasing an additional 3,425,115 shares during the period. Vanguard Group Inc. raised its stake in DoorDash by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after buying an additional 2,259,976 shares during the last quarter. First Trust Advisors LP lifted its holdings in DoorDash by 45.6% in the fourth quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after buying an additional 964,860 shares during the period. 1832 Asset Management L.P. bought a new stake in DoorDash during the fourth quarter valued at $92,937,000. Finally, Canada Pension Plan Investment Board grew its holdings in DoorDash by 595.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after acquiring an additional 763,579 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DASH has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of DoorDash in a research note on Tuesday, July 30th. JMP Securities increased their price target on DoorDash from $140.00 to $145.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. DA Davidson boosted their target price on shares of DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Roth Mkm raised their price target on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.50.

DoorDash Stock Performance

NASDAQ:DASH opened at $143.93 on Thursday. The firm has a 50-day moving average price of $123.53 and a two-hundred day moving average price of $121.71. DoorDash, Inc. has a 52 week low of $69.90 and a 52 week high of $146.36. The firm has a market cap of $59.23 billion, a price-to-earnings ratio of -133.27, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.44) EPS. As a group, sell-side analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $109.30, for a total value of $765,100.00. Following the transaction, the chief financial officer now owns 424,223 shares of the company’s stock, valued at $46,367,573.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 357,223 shares of company stock valued at $42,156,623. 7.92% of the stock is owned by corporate insiders.

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.