Mandatum Life Insurance Co Ltd Acquires New Holdings in DoorDash, Inc. $DASH

Key Points

• Mandatum Life Insurance Co Ltd has invested approximately $267,000 in DoorDash, acquiring 1,082 shares during the 2nd quarter.
• Several major institutional investors, including Vanguard Group and Goldman Sachs, significantly increased their stakes in DoorDash during the first quarter.
• DoorDash reported impressive earnings, achieving a 24.9% year-over-year revenue growth, with an EPS of $0.65 that exceeded analyst expectations.

Mandatum Life Insurance Co Ltd purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,082 shares of the company's stock, valued at approximately $267,000.

Other hedge funds have also modified their holdings of the company. Saudi Central Bank acquired a new stake in shares of DoorDash in the first quarter worth approximately $25,000. WPG Advisers LLC acquired a new stake in shares of DoorDash in the first quarter worth approximately $26,000. Pacific Center for Financial Services acquired a new stake in shares of DoorDash in the first quarter worth approximately $27,000. Harbour Investments Inc. boosted its position in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $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% 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 last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares of the company's stock, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,020,055 shares of company stock worth $250,222,491. 5.83% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DASH shares. BTIG Research raised their target price on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. DA Davidson raised their price target on shares of DoorDash from $190.00 to $260.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. Needham & Company LLC set a $300.00 price target on shares of DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. Piper Sandler raised their price target on shares of DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of DoorDash from a "buy" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and an average price target of $268.76.

DoorDash Stock Performance

DoorDash stock traded up $4.38 during mid-day trading on Tuesday, reaching $267.13. The company's stock had a trading volume of 862,082 shares, compared to its average volume of 4,530,417. The firm has a market cap of $114.12 billion, a price-to-earnings ratio of 148.43 and a beta of 1.70. The business has a 50 day moving average price of $250.63 and a 200-day moving average price of $219.23. 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, Inc. has a twelve month low of $138.59 and a twelve month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted ($0.38) earnings per share. The company's revenue for the quarter was up 24.9% compared to the same quarter last year. Sell-side analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.