Generate Investment Management Ltd Makes New $8.35 Million Investment in DoorDash, Inc. $DASH

Key Points

• Generate Investment Management Ltd has made a new investment of approximately $8.35 million in DoorDash by acquiring 33,881 shares, as reported in its recent SEC filing.
• DoorDash reported earnings per share (EPS) of $0.65 for the last quarter, surpassing analyst expectations of $0.42, while revenue increased by 24.9% year-over-year to $3.28 billion.
• Institutional investors now own 90.64% of DoorDash's stock, reflecting significant interest from various hedge funds, including new stakes from the Saudi Central Bank and SouthState Corp.

Generate Investment Management Ltd purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 33,881 shares of the company's stock, valued at approximately $8,352,000.

Several other hedge funds have also added to or reduced their stakes in DASH. Saudi Central Bank bought a new position in DoorDash in the 1st quarter worth about $25,000. WPG Advisers LLC bought a new stake in DoorDash in the 1st quarter worth about $26,000. Pacific Center for Financial Services bought a new position in DoorDash during the 1st quarter valued at about $27,000. 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 acquiring an additional 70 shares during the last quarter. Finally, SouthState Corp grew its stake in shares of DoorDash by 762.5% in the first quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after acquiring an additional 183 shares during the period. 90.64% of the stock is owned by institutional investors.

DoorDash Price Performance

DASH stock opened at $262.47 on Monday. The company's fifty day moving average price is $252.74 and its 200-day moving average price is $221.49. DoorDash, Inc. has a one year low of $140.53 and a one year high of $278.15. The company has a market capitalization of $112.13 billion, a PE ratio of 145.82 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its 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. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the previous year, the firm posted ($0.38) earnings per share. The business's revenue was up 24.9% compared to the same quarter last year. On average, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Tia Sherringham sold 2,924 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $250.00, for a total transaction of $731,000.00. Following the sale, the general counsel owned 112,782 shares of the company's stock, valued at $28,195,500. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $266.16, for a total transaction of $379,278.00. Following the completion of the transaction, the chief financial officer directly owned 214,772 shares of the company's stock, valued at $57,163,715.52. The trade was a 0.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 971,480 shares of company stock valued at $238,447,669 in the last three months. Corporate insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

DASH has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Piper Sandler raised their price target on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $330.00 price objective on shares of DoorDash in a report on Wednesday, September 17th. Loop Capital reissued a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Finally, Roth Capital boosted their target price on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.55.

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.

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.