Connor Clark & Lunn Investment Management Ltd. bought a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 323,287 shares of the company's stock, valued at approximately $59,087,000. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of DoorDash as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. increased its position in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 70 shares during the period. ORG Partners LLC increased its position in shares of DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC increased its position in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after acquiring an additional 247 shares during the period. Mizuho Securities Co. Ltd. grew its stake in shares of DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after purchasing an additional 180 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new position in shares of DoorDash during the first quarter worth $56,000. Hedge funds and other institutional investors own 90.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Bank of America boosted their target price on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Wells Fargo & Company boosted their target price on shares of DoorDash from $239.00 to $280.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Evercore ISI reiterated an "outperform" rating and set a $360.00 target price (up previously from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Finally, BTIG Research boosted their target price on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $263.88.
Get Our Latest Analysis on DoorDash
DoorDash Stock Performance
NASDAQ DASH traded down $11.89 during trading hours on Wednesday, hitting $252.43. 2,678,671 shares of the stock were exchanged, compared to its average volume of 4,767,681. The company has a market cap of $106.96 billion, a price-to-earnings ratio of 139.90 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $122.32 and a 12-month high of $278.15. The stock has a 50-day moving average of $237.98 and a 200 day moving average of $207.72. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.
DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results 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 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%. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.38) earnings per share. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.
Insider Activity at DoorDash
In other news, CEO Tony Xu sold 4,042 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $250.28, for a total transaction of $1,011,631.76. Following the completion of the transaction, the chief executive officer directly owned 520,450 shares of the company's stock, valued at $130,258,226. This trade represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $244.78, for a total transaction of $348,811.50. Following the transaction, the chief financial officer directly owned 244,905 shares of the company's stock, valued at approximately $59,947,845.90. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 635,187 shares of company stock worth $147,955,804. 5.83% of the stock is currently owned by company insiders.
About DoorDash
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Free Report)
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.
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