The Manufacturers Life Insurance Company Grows Stock Position in DoorDash, Inc. (NASDAQ:DASH)

The Manufacturers Life Insurance Company increased its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,700 shares of the company's stock after acquiring an additional 7,195 shares during the quarter. The Manufacturers Life Insurance Company's holdings in DoorDash were worth $12,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DASH. GeoWealth Management LLC lifted its stake in shares of DoorDash by 3.7% during the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock worth $240,000 after purchasing an additional 51 shares during the last quarter. IFP Advisors Inc lifted its position in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after buying an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock valued at $46,000 after buying an additional 69 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of DoorDash by 1.1% in the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company's stock valued at $1,110,000 after buying an additional 75 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of DoorDash by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company's stock worth $1,970,000 after buying an additional 84 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

Shares of NASDAQ DASH traded up $0.60 during trading on Friday, hitting $183.56. 3,422,208 shares of the company were exchanged, compared to its average volume of 4,178,195. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The company has a fifty day moving average price of $184.61 and a 200-day moving average price of $180.84. The firm has a market capitalization of $77.11 billion, a PE ratio of 679.85 and a beta of 1.68.

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

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research analyst reports. Benchmark boosted their price target on DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday. Mizuho boosted their target price on shares of DoorDash from $200.00 to $222.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Truist Financial upped their target price on DoorDash from $217.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC raised their target price on DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $209.97.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 15,198 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the completion of the transaction, the chief financial officer now directly owns 351,970 shares in the company, valued at $71,840,596.70. This trade represents a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction dated 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 in the company, valued at $3,313,424.85. This trade represents a 71.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,573 shares of company stock valued at $30,407,073 over the last 90 days. 7.92% of the stock is owned by company insiders.

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.