Mackenzie Financial Corp Has $26.75 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Mackenzie Financial Corp raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 751.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,461 shares of the company's stock after buying an additional 140,728 shares during the period. Mackenzie Financial Corp's holdings in DoorDash were worth $26,750,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DASH. Norges Bank bought a new stake in shares of DoorDash during the 4th quarter worth $597,443,000. Capital World Investors raised its position in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the last quarter. Franklin Resources Inc. increased its stake in DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock worth $796,781,000 after purchasing an additional 949,414 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in DoorDash during the 4th quarter worth about $146,094,000. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Price Performance

DASH stock traded up $1.70 during trading hours on Wednesday, reaching $206.59. The stock had a trading volume of 6,629,367 shares, compared to its average volume of 4,209,871. The stock has a 50-day simple moving average of $188.48 and a 200 day simple moving average of $184.34. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The stock has a market capitalization of $87.54 billion, a PE ratio of 765.15 and a beta of 1.68.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The company had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the prior year, the firm earned ($0.06) EPS. DoorDash's quarterly revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. FBN Securities assumed coverage on shares of DoorDash in a report on Friday, March 28th. They issued an "outperform" rating and a $230.00 target price for the company. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research note on Monday, April 28th. Roth Capital set a $191.00 target price on shares of DoorDash and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Susquehanna upped their target price on DoorDash from $180.00 to $235.00 and gave the company a "positive" rating in a report on Thursday, February 13th. Finally, JMP Securities restated a "market outperform" rating and set a $225.00 price target on shares of DoorDash in a report on Monday, April 28th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.97.

Insiders Place Their Bets

In other DoorDash news, General Counsel Tia Sherringham sold 7,546 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $204.56, for a total transaction of $1,543,609.76. Following the transaction, the general counsel now owns 129,514 shares in the company, valued at $26,493,383.84. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keith Yandell sold 5,410 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $204.53, for a total transaction of $1,106,507.30. Following the completion of the sale, the insider now directly owns 104,922 shares of the company's stock, valued at approximately $21,459,696.66. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,835 shares of company stock valued at $34,078,096 over the last ninety days. 5.83% of the stock is currently owned by company insiders.

DoorDash 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.