Bank of Montreal Can Has $60.31 Million Stake in DoorDash, Inc. $DASH

Bank of Montreal Can decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 24.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,648 shares of the company’s stock after selling 79,047 shares during the quarter. Bank of Montreal Can’s holdings in DoorDash were worth $60,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. State of Michigan Retirement System raised its stake in DoorDash by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 93,200 shares of the company’s stock worth $22,975,000 after purchasing an additional 1,200 shares in the last quarter. iA Global Asset Management Inc. raised its stake in DoorDash by 143.1% in the 2nd quarter. iA Global Asset Management Inc. now owns 126,102 shares of the company’s stock worth $31,085,000 after purchasing an additional 74,219 shares in the last quarter. Gilbert & Cook Inc. raised its stake in DoorDash by 2.6% in the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock worth $415,000 after purchasing an additional 42 shares in the last quarter. Triglav Investments D.O.O. acquired a new stake in DoorDash in the 2nd quarter worth about $7,519,000. Finally, Accuvest Global Advisors acquired a new stake in DoorDash in the 2nd quarter worth about $302,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Prabir Adarkar sold 24,968 shares of DoorDash stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the sale, the chief operating officer directly owned 909,579 shares in the company, valued at $247,696,553.28. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 852,704 shares of company stock worth $213,921,205 in the last ninety days. Insiders own 5.83% of the company’s stock.

DoorDash Trading Down 0.9%

Shares of DoorDash stock opened at $239.93 on Wednesday. The firm has a market capitalization of $102.50 billion, a PE ratio of 133.30 and a beta of 1.70. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $260.74 and its 200 day moving average is $237.29. DoorDash, Inc. has a 1 year low of $155.40 and a 1 year high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.38) EPS. Equities research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DASH. Roth Capital lifted their price objective on shares of DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Zacks Research raised shares of DoorDash from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Susquehanna raised their target price on shares of DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a report on Monday, August 11th. BMO Capital Markets raised their target price on shares of DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $325.00 target price (up from $275.00) on shares of DoorDash in a report on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $292.03.

About DoorDash

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.