Ontario Teachers Pension Plan Board Increases Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Ontario Teachers Pension Plan Board raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 1.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,398 shares of the company’s stock after buying an additional 456 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in DoorDash were worth $3,498,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DASH. Connors Investor Services Inc. increased its holdings in shares of DoorDash by 14.6% in the first quarter. Connors Investor Services Inc. now owns 157,038 shares of the company’s stock valued at $21,627,000 after purchasing an additional 20,038 shares during the period. Acadian Asset Management LLC increased its holdings in DoorDash by 36.8% in the 1st quarter. Acadian Asset Management LLC now owns 328,203 shares of the company’s stock worth $45,183,000 after buying an additional 88,219 shares during the period. Jupiter Asset Management Ltd. purchased a new position in DoorDash during the 1st quarter worth approximately $2,969,000. Pinkerton Retirement Specialists LLC acquired a new stake in DoorDash during the 1st quarter valued at approximately $548,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of DoorDash by 37.3% in the 1st quarter. Orion Portfolio Solutions LLC now owns 6,490 shares of the company’s stock valued at $894,000 after acquiring an additional 1,762 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of DASH traded down $1.60 during mid-day trading on Monday, reaching $104.50. The stock had a trading volume of 3,786,771 shares, compared to its average volume of 3,954,170. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $143.34. The firm has a market cap of $42.73 billion, a price-to-earnings ratio of -97.81, a P/E/G ratio of 30.98 and a beta of 1.67. The business’s fifty day moving average is $110.86 and its 200 day moving average is $118.09.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the firm earned ($0.41) EPS. The business’s revenue was up 23.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DASH. Needham & Company LLC restated a “buy” rating and set a $137.00 target price on shares of DoorDash in a research report on Thursday, May 2nd. Loop Capital assumed coverage on DoorDash in a report on Friday, April 19th. They set a “buy” rating and a $170.00 target price on the stock. Truist Financial decreased their price target on DoorDash from $155.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company raised their price objective on shares of DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Finally, BMO Capital Markets decreased their target price on shares of DoorDash from $138.00 to $127.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $134.60.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00. Following the completion of the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at $50,340,453.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. Insiders have sold 459,016 shares of company stock worth $50,495,566 over the last quarter. 7.92% of the stock is currently 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.