Canada Pension Plan Investment Board lifted its holdings in shares of DoorDash, Inc. (NYSE:DASH – Free Report) by 171.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,900 shares of the company’s stock after acquiring an additional 119,400 shares during the period. Canada Pension Plan Investment Board’s holdings in DoorDash were worth $14,436,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Manchester Capital Management LLC bought a new stake in DoorDash in the 1st quarter worth about $25,000. US Bancorp DE grew its position in DoorDash by 204.6% in the 1st quarter. US Bancorp DE now owns 926 shares of the company’s stock worth $109,000 after purchasing an additional 622 shares in the last quarter. Belpointe Asset Management LLC grew its position in DoorDash by 7,242.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,028 shares of the company’s stock worth $65,000 after purchasing an additional 1,014 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its position in DoorDash by 29.3% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 1,350 shares of the company’s stock worth $103,000 after purchasing an additional 306 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in DoorDash in the 2nd quarter worth about $121,000. 75.84% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on DASH shares. Wells Fargo & Company upped their price objective on shares of DoorDash from $70.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Morgan Stanley increased their target price on shares of DoorDash from $72.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Moffett Nathanson downgraded shares of DoorDash from an “outperform” rating to a “market perform” rating in a research report on Friday, September 15th. JMP Securities increased their target price on shares of DoorDash from $100.00 to $113.00 and gave the company a “market outperform” rating in a research report on Friday, November 3rd. Finally, Bank of America increased their target price on shares of DoorDash from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, DoorDash currently has an average rating of “Hold” and an average price target of $94.18.
In other news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $83.34, for a total transaction of $11,025,882.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Shona L. Brown sold 700 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $77.18, for a total transaction of $54,026.00. Following the transaction, the director now owns 74,317 shares of the company’s stock, valued at approximately $5,735,786.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 132,300 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $83.34, for a total transaction of $11,025,882.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 882,865 shares of company stock worth $71,422,548. 9.59% of the stock is currently owned by corporate insiders.
DoorDash Price Performance
NYSE DASH opened at $95.16 on Thursday. DoorDash, Inc. has a 1 year low of $45.93 and a 1 year high of $95.89. The stock has a market capitalization of $37.89 billion, a PE ratio of -35.38 and a beta of 1.61. The company’s 50 day simple moving average is $79.76 and its two-hundred day simple moving average is $77.10.
DoorDash (NYSE:DASH – Get Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.26. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.09 billion. DoorDash had a negative net margin of 12.81% and a negative return on equity of 9.88%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.77) EPS. On average, research analysts anticipate that DoorDash, Inc. will post -1.26 EPS for the current year.
DoorDash Company Profile
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.
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