DoorDash, Inc. $DASH Shares Purchased by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in DoorDash, Inc. by 10.9%, acquiring an additional 6,763 shares, totaling 68,566 shares valued at approximately $16.9 million.
• Various analysts have raised their price targets for DoorDash stock, with Evercore ISI setting the highest at $360.00 and a consensus target price of $268.76 among analysts.
• In recent trading, DoorDash shares opened at $268.07, with a one-year performance range between $136.05 and $278.15, reflecting a strong market position for the company.

IFM Investors Pty Ltd grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 10.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,566 shares of the company's stock after purchasing an additional 6,763 shares during the quarter. IFM Investors Pty Ltd's holdings in DoorDash were worth $16,902,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Saudi Central Bank acquired a new stake in DoorDash during the 1st quarter worth $25,000. WPG Advisers LLC acquired a new position in shares of DoorDash during the 1st quarter valued at about $26,000. Pacific Center for Financial Services acquired a new position in shares of DoorDash during the 1st quarter valued at about $27,000. Harbour Investments Inc. boosted its position 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 boosted its position 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 acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 51,250 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $258.26, for a total value of $13,235,825.00. Following the sale, the chief executive officer directly owned 1,500 shares of the company's stock, valued at approximately $387,390. This represents a 97.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Keith Yandell sold 18,034 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.16, for a total transaction of $4,385,147.44. Following the completion of the sale, the insider directly owned 75,432 shares in the company, valued at approximately $18,342,045.12. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,026,048 shares of company stock worth $251,592,950. Corporate insiders own 5.83% of the company's stock.

DoorDash Stock Down 1.0%

NASDAQ:DASH traded down $2.78 during mid-day trading on Friday, hitting $265.29. The stock had a trading volume of 10,684,224 shares, compared to its average volume of 2,651,273. The stock has a 50-day simple moving average of $250.23 and a two-hundred day simple moving average of $218.37. The company has a market capitalization of $113.33 billion, a PE ratio of 147.38 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $136.53 and a twelve month high of $278.15. 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 posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the business posted ($0.38) EPS. The firm's revenue was up 24.9% on a year-over-year basis. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DASH. Royal Bank Of Canada boosted their price target on shares of DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. BTIG Research boosted their price target on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. JMP Securities boosted their price target on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Stifel Nicolaus boosted their price target on shares of DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Finally, Loop Capital reissued a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. One research 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 stock has a consensus rating of "Moderate Buy" and an average target price of $268.76.

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.