Caisse DE Depot ET Placement DU Quebec Increases Stock Position in DoorDash, Inc. $DASH

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in DoorDash, acquiring an additional 56,310 shares, bringing its total holdings to 501,172 shares worth approximately $91.6 million.
• Analysts have set new price targets for DoorDash, with Needham & Company targeting $300 and Truist Financial at $326, reflecting a strong positive sentiment in the market.
• Insider transactions show significant stock sales, with both Director Stanley Tang and CEO Tony Xu selling hundreds of thousands of shares, indicating a decrease in their personal ownership stakes.

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 501,172 shares of the company's stock after acquiring an additional 56,310 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.12% of DoorDash worth $91,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DASH. Harbour Investments Inc. lifted its position in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 70 shares during the period. SouthState Corp lifted its position in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after acquiring an additional 183 shares during the period. ORG Partners LLC lifted its position in shares of DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC lifted its position in shares of DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after acquiring an additional 247 shares during the period. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after acquiring an additional 180 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the sale, the director directly owned 26,070 shares of the company's stock, valued at $6,442,157.70. The trade was a 63.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shona L. Brown sold 1,650 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $272.00, for a total transaction of $448,800.00. Following the sale, the director directly owned 41,827 shares of the company's stock, valued at $11,376,944. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 932,764 shares of company stock worth $224,714,524 in the last three months. 5.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DASH shares. Morgan Stanley lifted their price target on shares of DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Truist Financial lifted their price objective on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on DoorDash from $239.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Sanford C. Bernstein lifted their price objective on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $263.88.

DoorDash Trading Down 0.8%

DASH stock traded down $2.08 during midday trading on Friday, hitting $245.25. The stock had a trading volume of 1,966,601 shares, compared to its average volume of 3,884,752. The firm has a market cap of $104.77 billion, a PE ratio of 136.25 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. DoorDash, Inc. has a 12-month low of $122.32 and a 12-month high of $278.15. The company's 50-day moving average price is $245.52 and its 200 day moving average price is $212.79.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) EPS. On average, equities research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal 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.