E Fund Management Co. Ltd. Has $2 Million Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• E Fund Management Co. Ltd. increased its stake in DoorDash, Inc. by 136.6%, owning 10,926 shares valued at approximately $1.997 million after acquiring an additional 6,308 shares this quarter.
• Several other hedge funds also notably increased their holdings in DoorDash, with SouthState Corp raising their stake by 762.5% and Rothschild Investment LLC by 1,452.9% in Q1.
• DoorDash's recent quarterly earnings exceeded expectations, reporting $0.65 EPS against an anticipated $0.42, with revenue increasing 24.9% year-over-year to $3.28 billion.

E Fund Management Co. Ltd. boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 136.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,926 shares of the company's stock after purchasing an additional 6,308 shares during the period. E Fund Management Co. Ltd.'s holdings in DoorDash were worth $1,997,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GeoWealth Management LLC increased its position in shares of DoorDash by 3.7% in the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock valued at $240,000 after purchasing an additional 51 shares during the last quarter. Harbour Investments Inc. grew its stake 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 purchasing an additional 70 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of DoorDash by 5.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock worth $279,000 after purchasing an additional 86 shares in the last quarter. LVW Advisors LLC grew its stake in shares of DoorDash by 6.1% during the first quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock worth $273,000 after purchasing an additional 86 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in shares of DoorDash by 12.7% during the first quarter. CVA Family Office LLC now owns 774 shares of the company's stock worth $141,000 after purchasing an additional 87 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DASH has been the subject of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $260.00 price target (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Stifel Nicolaus lifted their price target on DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. DA Davidson raised their target price on shares of DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, JMP Securities lifted their price target on shares of DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, DoorDash has an average rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Stock Performance

NASDAQ:DASH traded up $0.56 during trading hours on Friday, hitting $248.00. 3,084,637 shares of the company traded hands, compared to its average volume of 3,592,670. The stock has a market capitalization of $105.94 billion, a price-to-earnings ratio of 137.78 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $122.32 and a twelve month high of $278.15. The firm has a 50-day moving average of $239.89 and a 200 day moving average of $209.08. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

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, beating analysts' consensus estimates of $0.42 by $0.23. The company 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 business's revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.38) EPS. On average, analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated 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 sale, the director owned 26,070 shares of the company's stock, valued at $6,442,157.70. This represents a 63.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 51,250 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $255.89, for a total transaction of $13,114,362.50. Following the sale, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $133,177,950.50. This represents a 8.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 686,437 shares of company stock worth $161,070,166. 5.83% of the stock is currently owned by insiders.

DoorDash Company 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.