The Manufacturers Life Insurance Company Boosts Position in DoorDash, Inc. $DASH

Key Points

• The Manufacturers Life Insurance Company increased its holdings in DoorDash, Inc. by 266.1% in the 1st quarter, now owning approximately 0.06% of DoorDash worth $48,644,000.
• DoorDash reported earnings of $0.65 per share in its latest quarter, exceeding the consensus estimate of $0.42, with revenues reaching $3.28 billion.
• A number of analysts have upgraded their ratings for DoorDash, with a consensus rating of "Moderate Buy" and an average price target of $263.88.

The Manufacturers Life Insurance Company increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 266.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 266,146 shares of the company's stock after purchasing an additional 193,446 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of DoorDash worth $48,644,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Palo Alto Wealth Advisors LLC lifted its stake in DoorDash by 0.4% during the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock worth $2,385,000 after purchasing an additional 54 shares during the last quarter. Harbour Investments Inc. lifted its stake in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares during the last quarter. LVW Advisors LLC lifted its stake in DoorDash by 6.1% in the first quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock valued at $273,000 after buying an additional 86 shares during the last quarter. CVA Family Office LLC lifted its stake in DoorDash by 12.7% in the first quarter. CVA Family Office LLC now owns 774 shares of the company's stock valued at $141,000 after buying an additional 87 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in DoorDash by 8.3% in the first quarter. Proficio Capital Partners LLC now owns 1,416 shares of the company's stock valued at $259,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DASH shares. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Citigroup reiterated an "outperform" rating on shares of DoorDash in a research note on Thursday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Stifel Nicolaus boosted their price objective on DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Finally, Truist Financial boosted their price objective on DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $263.88.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $245.25 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a fifty day moving average price of $245.52 and a 200 day moving average price of $212.84. DoorDash, Inc. has a 1-year low of $122.32 and a 1-year high of $278.15. The company has a market cap of $104.77 billion, a PE ratio of 136.25 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.16 billion. During the same period last year, the company earned ($0.38) earnings per share. The company's revenue for the quarter was up 24.9% on a year-over-year basis. Sell-side analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the transaction, the director owned 26,070 shares of the company's stock, valued at $6,442,157.70. The trade was a 63.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 887,533 shares of company stock valued at $215,154,500. 5.83% of the stock is currently owned by company insiders.

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.

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