Northwest & Ethical Investments L.P. Increases Stock Holdings in DoorDash, Inc. $DASH

Key Points

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Northwest & Ethical Investments L.P. raised its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 173.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,933 shares of the company's stock after purchasing an additional 5,033 shares during the period. Northwest & Ethical Investments L.P.'s holdings in DoorDash were worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Harbour Investments Inc. raised its position in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares in the last quarter. SouthState Corp raised its position in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after acquiring an additional 183 shares in the last quarter. ORG Partners LLC raised its position in shares of DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC raised its position in shares of DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after acquiring an additional 247 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. raised its position in shares of DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insiders Place Their Bets

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the sale, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the sale, the director owned 26,070 shares in the company, valued at approximately $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 905,179 shares of company stock valued at $217,357,737 in the last three months. 5.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DASH. Jefferies Financial Group raised their target price on DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Raymond James Financial reissued a "strong-buy" rating and issued a $325.00 price objective (up from $275.00) on shares of DoorDash in a report on Thursday, August 7th. Oppenheimer lifted their price objective on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Susquehanna increased their target price on shares of DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a research note on Monday, August 11th. Finally, Morgan Stanley raised their price target on DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Price Performance

Shares of DoorDash stock traded up $2.14 during trading on Friday, reaching $247.32. The company's stock had a trading volume of 2,811,511 shares, compared to its average volume of 3,882,916. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 12-month low of $122.32 and a 12-month high of $278.15. The company has a market capitalization of $105.65 billion, a P/E ratio of 137.40 and a beta of 1.70. The business has a 50 day moving average price of $242.93 and a 200-day moving average price of $210.92.

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

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.