Healthcare of Ontario Pension Plan Trust Fund Buys 8,905 Shares of DoorDash, Inc. $DASH

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its DoorDash stake by 6.8% in the fourth quarter, buying 8,905 additional shares and bringing its total holdings to 139,214 shares worth about $31.5 million.
• DoorDash reported better-than-expected earnings of $0.42 per share for the quarter, though revenue of $4.04 billion came in slightly below analyst estimates; revenue still rose 33.1% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $256.11, even as several insiders recently sold shares under pre-arranged trading plans.

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,214 shares of the company's stock after acquiring an additional 8,905 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in DoorDash were worth $31,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Eastern Bank boosted its stake in shares of DoorDash by 714.3% in the 4th quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Swiss RE Ltd. bought a new position in shares of DoorDash in the 4th quarter valued at about $28,000. ST Germain D J Co. Inc. bought a new position in shares of DoorDash in the 4th quarter valued at about $29,000. Sunbelt Securities Inc. boosted its stake in shares of DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock valued at $33,000 after purchasing an additional 67 shares during the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of DoorDash in the 3rd quarter valued at about $36,000. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $168.09 on Tuesday. The company has a market capitalization of $73.24 billion, a price-to-earnings ratio of 80.04 and a beta of 1.83. The firm's 50 day simple moving average is $162.97 and its 200 day simple moving average is $183.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The business's revenue was up 33.1% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director owned 19,279 shares of the company's stock, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. The trade was a 2.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 68,558 shares of company stock worth $10,914,640. Corporate insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DASH. Morgan Stanley reaffirmed an "overweight" rating and issued a $275.00 target price on shares of DoorDash in a research note on Thursday, February 19th. Mizuho reduced their target price on shares of DoorDash from $320.00 to $255.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 3rd. DA Davidson reduced their target price on shares of DoorDash from $224.00 to $200.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. TD Cowen began coverage on shares of DoorDash in a research note on Monday, April 27th. They issued a "buy" rating and a $225.00 target price on the stock. Finally, The Goldman Sachs Group set a $280.00 target price on shares of DoorDash in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $256.11.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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