BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stock Holdings in DoorDash, Inc. $DASH

Key Points

• British Columbia Investment Management Corp increased its stake in DoorDash by 13.9%, owning 67,080 shares worth approximately $12.26 million after purchasing an additional 8,162 shares in the first quarter.
• Insider trading revealed that CEO Tony Xu sold 291,403 shares for over $69 million, significantly reducing his position by 55.99%.
• A majority of analysts have a positive outlook on DoorDash, with multiple upgrades raising the price target, including a target increase by Susquehanna from $235.00 to $300.00.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 13.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,080 shares of the company's stock after purchasing an additional 8,162 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in DoorDash were worth $12,260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mutual of America Capital Management LLC purchased a new position in DoorDash in the first quarter valued at about $7,200,000. Blair William & Co. IL boosted its holdings in DoorDash by 12.8% in the first quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock valued at $887,000 after purchasing an additional 551 shares during the last quarter. Brighton Jones LLC boosted its holdings in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Flagship Harbor Advisors LLC boosted its holdings in DoorDash by 14.4% in the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after purchasing an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in DoorDash by 70.4% in the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock valued at $351,000 after purchasing an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director owned 22,545 shares of the company's stock, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 905,179 shares of company stock worth $217,357,737 in the last 90 days. 5.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DASH shares. DA Davidson increased their price target on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Susquehanna lifted their target price on DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a research report on Monday, August 11th. Jefferies Financial Group lifted their target price on DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Raymond James Financial reiterated a "strong-buy" rating and issued a $325.00 target price (up previously from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Finally, Needham & Company LLC set a $300.00 target price on DoorDash and gave the stock a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Trading Up 0.9%

NASDAQ:DASH opened at $247.32 on Friday. DoorDash, Inc. has a 12-month low of $122.32 and a 12-month high of $278.15. The firm has a market capitalization of $105.66 billion, a P/E ratio of 137.40 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The business has a 50 day simple moving average of $242.93 and a 200 day simple moving average of $211.02.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted ($0.38) EPS. The business's revenue for the quarter was up 24.9% compared to the same quarter last year. Equities research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

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.

Want to see what other hedge funds are holding DASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DoorDash, Inc. (NASDAQ:DASH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.