Investment Management Corp of Ontario Grows Stock Holdings in DoorDash, Inc. $DASH

Investment Management Corp of Ontario grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 23.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,094 shares of the company’s stock after acquiring an additional 16,187 shares during the period. Investment Management Corp of Ontario’s holdings in DoorDash were worth $20,730,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. raised its stake in shares of DoorDash by 2.6% during the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock valued at $415,000 after purchasing an additional 42 shares during the period. Perigon Wealth Management LLC boosted its stake in DoorDash by 1.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock worth $912,000 after purchasing an additional 46 shares during the period. Advisory Resource Group grew its holdings in DoorDash by 0.8% during the 2nd quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock valued at $1,423,000 after buying an additional 48 shares in the last quarter. Yeomans Consulting Group Inc. increased its position in shares of DoorDash by 3.9% during the second quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock valued at $326,000 after buying an additional 51 shares during the period. Finally, SageView Advisory Group LLC increased its position in shares of DoorDash by 3.6% during the second quarter. SageView Advisory Group LLC now owns 1,486 shares of the company’s stock valued at $366,000 after buying an additional 51 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Tony Xu sold 288,410 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the transaction, the chief executive officer directly owned 232,040 shares of the company’s stock, valued at approximately $45,489,121.60. This trade represents a 55.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $270.60, for a total value of $8,118,000.00. Following the completion of the sale, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at approximately $247,476,418.20. This represents a 3.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 679,563 shares of company stock worth $152,902,593. 5.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BTIG Research restated a “buy” rating and issued a $315.00 price objective on shares of DoorDash in a research report on Thursday, November 6th. Bank of America lowered their target price on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Wells Fargo & Company cut their price target on shares of DoorDash from $301.00 to $239.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Zacks Research lowered shares of DoorDash from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Needham & Company LLC lowered their price objective on DoorDash from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $275.62.

DoorDash Stock Performance

DoorDash stock opened at $225.43 on Tuesday. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market cap of $97.16 billion, a P/E ratio of 114.43 and a beta of 1.72. The firm’s fifty day moving average price is $236.35 and its 200-day moving average price is $239.54.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 27.3% compared to the same quarter last year. On average, equities research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.