AQR Capital Management LLC Acquires 797,849 Shares of DoorDash, Inc. $DASH

AQR Capital Management LLC raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 43.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,633,971 shares of the company’s stock after purchasing an additional 797,849 shares during the period. DoorDash accounts for about 0.5% of AQR Capital Management LLC’s portfolio, making the stock its 18th biggest position. AQR Capital Management LLC owned about 0.62% of DoorDash worth $643,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Gilbert & Cook Inc. raised its holdings in DoorDash by 2.6% during the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock valued at $415,000 after buying an additional 42 shares during the period. Perigon Wealth Management LLC increased its position in DoorDash by 1.3% during the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock valued at $912,000 after acquiring an additional 46 shares during the last quarter. Advisory Resource Group raised its stake in shares of DoorDash by 0.8% in the second quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock valued at $1,423,000 after acquiring an additional 48 shares during the period. Yeomans Consulting Group Inc. lifted its holdings in shares of DoorDash by 3.9% in the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock worth $326,000 after acquiring an additional 51 shares during the last quarter. Finally, SageView Advisory Group LLC lifted its holdings in shares of DoorDash by 3.6% in the 2nd quarter. SageView Advisory Group LLC now owns 1,486 shares of the company’s stock worth $366,000 after acquiring an additional 51 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

DASH has been the subject of several analyst reports. BTIG Research reissued a “buy” rating and issued a $315.00 price objective on shares of DoorDash in a research note on Thursday, November 6th. Needham & Company LLC reduced their price target on DoorDash from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Wedbush raised DoorDash from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $160.00 to $260.00 in a research note on Thursday, November 13th. Benchmark upped their price objective on DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Bank of America reduced their target price on DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.46.

DoorDash Price Performance

DASH opened at $227.49 on Friday. The business’s 50-day moving average is $232.77 and its two-hundred day moving average is $239.61. DoorDash, Inc. has a 1 year low of $155.40 and a 1 year high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $98.05 billion, a PE ratio of 115.48 and a beta of 1.72.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. Research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Tony Xu sold 288,410 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $196.04, for a total value of $56,539,896.40. Following the completion of the transaction, the chief executive officer directly owned 232,040 shares in the company, valued at $45,489,121.60. This trade represents a 55.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.20, for a total transaction of $8,046,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 696,230 shares of company stock worth $156,736,003 over the last three months. Corporate insiders own 5.83% of the company’s stock.

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.