Investment Management Corp of Ontario Acquires 12,385 Shares of DoorDash, Inc. (NASDAQ:DASH)

Investment Management Corp of Ontario grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 93.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,638 shares of the company's stock after buying an additional 12,385 shares during the period. Investment Management Corp of Ontario's holdings in DoorDash were worth $4,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DASH. Pittenger & Anderson Inc. bought a new stake in DoorDash during the 4th quarter valued at $29,000. Denver PWM LLC bought a new position in DoorDash in the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash during the 4th quarter worth about $34,000. ORG Wealth Partners LLC acquired a new position in shares of DoorDash during the fourth quarter valued at approximately $36,000. Finally, IFP Advisors Inc raised its holdings in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the sale, the director now owns 18,285 shares of the company's stock, valued at approximately $3,313,424.85. This trade represents a 71.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 1,398 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the sale, the director now owns 14,778 shares in the company, valued at approximately $3,006,584.10. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,573 shares of company stock valued at $30,407,073 in the last three months. Company insiders own 7.92% of the company's stock.

DoorDash Price Performance

NASDAQ:DASH traded down $0.49 during midday trading on Wednesday, reaching $197.31. The stock had a trading volume of 569,425 shares, compared to its average volume of 4,163,977. The stock has a market capitalization of $82.89 billion, a P/E ratio of 730.84 and a beta of 1.68. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25. The firm's fifty day simple moving average is $184.91 and its 200-day simple moving average is $181.41.

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

Wall Street Analysts Forecast Growth

DASH has been the topic of several research analyst reports. Roth Mkm lifted their price target on DoorDash from $165.00 to $193.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price objective on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Benchmark lifted their price objective on shares of DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group boosted their target price on shares of DoorDash from $192.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $210.00 target price on shares of DoorDash in a report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $209.97.

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.