Alberta Investment Management Corp Has $34.23 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Alberta Investment Management Corp has reduced its stake in DoorDash, Inc. by 33.5%, selling 94,233 shares during the first quarter, now holding 187,264 shares valued at approximately $34.23 million.
• DoorDash's stock price opened at $250.25 with a market cap of $106.04 billion, and analysts suggest a moderate buy rating with a target price of around $235.56.
• Insiders have sold 508,127 shares of DoorDash in the last ninety days, highlighting significant trading activity by executives within the company.

Alberta Investment Management Corp cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 33.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 187,264 shares of the company's stock after selling 94,233 shares during the period. Alberta Investment Management Corp's holdings in DoorDash were worth $34,226,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GeoWealth Management LLC increased its position in DoorDash by 3.7% during the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock worth $240,000 after purchasing an additional 51 shares in the last quarter. Harbour Investments Inc. grew its holdings in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after buying an additional 70 shares during the period. Coldstream Capital Management Inc. grew its holdings in DoorDash by 5.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock valued at $279,000 after buying an additional 86 shares during the period. LVW Advisors LLC grew its holdings in DoorDash by 6.1% in the 1st quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock valued at $273,000 after buying an additional 86 shares during the period. Finally, CVA Family Office LLC grew its holdings in DoorDash by 12.7% in the 1st quarter. CVA Family Office LLC now owns 774 shares of the company's stock valued at $141,000 after buying an additional 87 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

Shares of NASDAQ DASH traded down $1.90 during mid-day trading on Friday, reaching $248.35. 2,945,040 shares of the company traded hands, compared to its average volume of 2,699,196. The stock has a market cap of $105.24 billion, a PE ratio of 322.54 and a beta of 1.70. The company's fifty day moving average is $230.64 and its two-hundred day moving average is $203.69. DoorDash, Inc. has a fifty-two week low of $106.21 and a fifty-two week high of $252.87.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS. Research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on DASH. Wells Fargo & Company lifted their price target on DoorDash from $198.00 to $239.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Cantor Fitzgerald reiterated an "overweight" rating and set a $260.00 target price (up previously from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Sanford C. Bernstein boosted their target price on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, KeyCorp boosted their target price on DoorDash from $235.00 to $295.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $235.56.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 30,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $243.02, for a total value of $7,290,600.00. Following the completion of the sale, the chief operating officer directly owned 942,554 shares of the company's stock, valued at $229,059,473.08. This represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,127 shares of company stock valued at $115,087,539 in the last ninety days. Company 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.