Canada Pension Plan Investment Board Raises Stock Position in DoorDash, Inc. $DASH

Key Points

• Canada Pension Plan Investment Board increased its stake in DoorDash by 48.8% in Q1, owning over 1 million shares valued at approximately $185.65 million.
• DoorDash reported a 24.9% increase in quarterly revenue year-over-year, achieving earnings per share of $0.65, exceeding analysts' expectations.
• Multiple other institutional investors, including Vanguard and Deutsche Bank, have significantly raised their holdings in DoorDash, contributing to an overall institutional ownership of 90.64%.

Canada Pension Plan Investment Board boosted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 48.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,015,779 shares of the company's stock after buying an additional 333,197 shares during the period. Canada Pension Plan Investment Board owned 0.24% of DoorDash worth $185,654,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. WPG Advisers LLC bought a new position in shares of DoorDash during the 1st quarter valued at about $26,000. Harbour Investments Inc. boosted its holdings 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 purchasing an additional 70 shares during the last quarter. SouthState Corp boosted its holdings 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 purchasing an additional 183 shares during the last quarter. ORG Partners LLC boosted its holdings 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 purchasing an additional 202 shares during the last quarter. Finally, Rothschild Investment LLC boosted its holdings 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 purchasing an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Trading Down 0.5%

NASDAQ DASH traded down $1.15 during trading on Tuesday, hitting $244.10. The stock had a trading volume of 2,683,546 shares, compared to its average volume of 4,638,260. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market capitalization of $104.28 billion, a price-to-earnings ratio of 135.61 and a beta of 1.70. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. The stock has a 50 day simple moving average of $245.82 and a 200 day simple moving average of $213.06.

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

Analysts Set New Price Targets

Several research firms have commented on DASH. Wedbush reissued a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. Evercore ISI reissued an "outperform" rating and set a $360.00 price objective (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. KeyCorp reissued an "overweight" rating and set a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Zacks Research raised shares of DoorDash to a "hold" rating in a report on Tuesday, August 12th. Finally, Roth Capital increased their price target on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $263.88.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the sale, the chief operating officer owned 914,547 shares of the company's stock, valued at $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 1,650 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $272.00, for a total transaction of $448,800.00. Following the completion of the sale, the director directly owned 41,827 shares of the company's stock, valued at approximately $11,376,944. The trade was a 3.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 901,361 shares of company stock valued at $218,575,187 over the last quarter. 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.