DoorDash, Inc. (NASDAQ:DASH) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 50,948 shares of the company’s stock after selling 3,174 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in DoorDash were worth $7,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC increased its stake in DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after buying an additional 1,246,567 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in DoorDash by 3,284.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after buying an additional 708,218 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of DoorDash by 5,396.1% during the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after acquiring an additional 651,525 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $180.48 on Monday. DoorDash, Inc. has a 1 year low of $92.58 and a 1 year high of $181.30. The business’s fifty day moving average is $158.11 and its 200-day moving average is $131.20. The stock has a market cap of $74.97 billion, a PE ratio of -401.07, a price-to-earnings-growth ratio of 13.88 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.19) EPS. Equities research analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the transaction, the insider now directly owns 124,221 shares in the company, valued at $21,115,085.58. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 654,596 shares of company stock worth $104,128,585. Corporate insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup increased their price target on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. The Goldman Sachs Group raised their price target on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Raymond James started coverage on shares of DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target on the stock. Royal Bank of Canada raised their price objective on shares of DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, DA Davidson upped their target price on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.06.

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.