iA Global Asset Management Inc. Raises Stock Holdings in DoorDash, Inc. $DASH

iA Global Asset Management Inc. lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 143.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,102 shares of the company’s stock after acquiring an additional 74,219 shares during the quarter. iA Global Asset Management Inc.’s holdings in DoorDash were worth $31,085,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DASH. Brighton Jones LLC increased its position in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of DoorDash by 47.2% in the first quarter. Teacher Retirement System of Texas now owns 67,555 shares of the company’s stock valued at $12,347,000 after buying an additional 21,663 shares during the period. Mutual Advisors LLC bought a new stake in shares of DoorDash in the first quarter valued at $411,000. Principal Financial Group Inc. raised its stake in shares of DoorDash by 383.0% in the first quarter. Principal Financial Group Inc. now owns 451,007 shares of the company’s stock valued at $82,431,000 after buying an additional 357,625 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of DoorDash in the first quarter valued at $361,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the stock a “buy” rating in a research report on Thursday, August 7th. Barclays assumed coverage on shares of DoorDash in a research report on Friday, October 24th. They set an “equal weight” rating and a $272.00 target price for the company. Jefferies Financial Group increased their target price on shares of DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research report on Wednesday, October 8th. Finally, Roth Capital raised their price target on DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $291.88.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total transaction of $12,180,324.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Monday, October 20th. The shares were sold at an average price of $263.86, for a total value of $376,000.50. Following the sale, the chief financial officer directly owned 214,147 shares of the company’s stock, valued at $56,504,827.42. This represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 852,704 shares of company stock valued at $213,921,205 in the last ninety days. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

DoorDash stock opened at $254.37 on Friday. DoorDash, Inc. has a one year low of $152.26 and a one year high of $285.50. The business has a fifty day moving average price of $260.98 and a 200-day moving average price of $236.05. 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 firm has a market capitalization of $108.67 billion, a P/E ratio of 141.32 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.38) earnings per share. As a group, equities research analysts forecast 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.