DoorDash, Inc. $DASH Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in DoorDash, Inc. by 64.5%, acquiring 7,212 shares to total 18,395 shares worth approximately $3.36 million by the end of the quarter.
• Insider selling has been notable, with CEO Tony Xu selling 291,403 shares for over $69 million, a decrease of nearly 56% in his holdings, while Director Andy Fang sold 50,000 shares for approximately $13.8 million.
• Multiple analysts have significantly raised their price targets for DoorDash shares, with estimates ranging from $263.88 to $360.00, indicating strong optimism regarding the company's future performance.

OMERS ADMINISTRATION Corp raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 64.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,395 shares of the company's stock after purchasing an additional 7,212 shares during the period. OMERS ADMINISTRATION Corp's holdings in DoorDash were worth $3,362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Brighton Jones LLC lifted its position in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares during the period. Integrated Wealth Concepts LLC purchased a new position in DoorDash during the fourth quarter worth about $237,000. Voya Investment Management LLC lifted its position in DoorDash by 0.5% during the fourth quarter. Voya Investment Management LLC now owns 26,510 shares of the company's stock worth $4,447,000 after buying an additional 122 shares during the period. Coldstream Capital Management Inc. lifted its position in DoorDash by 5.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock worth $279,000 after buying an additional 86 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in DoorDash during the fourth quarter worth about $960,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley increased their target price on DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. UBS Group raised their price objective on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Bank of America raised their price objective on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Wedbush restated a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. Finally, Loop Capital restated a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $263.88.

DoorDash Stock Down 0.6%

NASDAQ DASH traded down $1.55 during mid-day trading on Tuesday, reaching $243.70. 1,912,676 shares of the company's stock traded hands, compared to its average volume of 4,633,235. DoorDash, Inc. has a 1-year low of $122.32 and a 1-year high of $278.15. The company has a fifty day simple moving average of $245.82 and a 200-day simple moving average of $213.06. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a market cap of $104.11 billion, a price-to-earnings ratio of 135.52 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned ($0.38) EPS. DoorDash's quarterly revenue was up 24.9% on a year-over-year basis. As a group, equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity

In other news, CFO Ravi Inukonda sold 13,891 shares of DoorDash stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $247.22, for a total value of $3,434,133.02. Following the completion of the transaction, the chief financial officer owned 215,397 shares in the company, valued at approximately $53,250,446.34. This trade represents a 6.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 901,361 shares of company stock worth $218,575,187 over the last quarter. Corporate insiders own 5.83% of the company's stock.

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.