Coronation Fund Managers Ltd. Acquires Shares of 194,738 DoorDash, Inc. $DASH

Coronation Fund Managers Ltd. bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 194,738 shares of the company’s stock, valued at approximately $29,240,000. DoorDash makes up approximately 1.3% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 19th biggest position.

Other institutional investors have also recently modified their holdings of the company. CYBER HORNET ETFs LLC raised its holdings in DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock worth $222,000 after purchasing an additional 60 shares during the period. Vise Technologies Inc. grew its holdings in DoorDash by 1.8% in the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock valued at $796,000 after purchasing an additional 63 shares during the period. Sunbelt Securities Inc. grew its holdings in DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares during the period. AXS Investments LLC increased its position in shares of DoorDash by 1.3% in the fourth quarter. AXS Investments LLC now owns 5,438 shares of the company’s stock valued at $1,232,000 after buying an additional 69 shares in the last quarter. Finally, Mutual Advisors LLC increased its position in shares of DoorDash by 3.1% in the fourth quarter. Mutual Advisors LLC now owns 2,371 shares of the company’s stock valued at $537,000 after buying an additional 71 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on DASH shares. Truist Financial reduced their target price on DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. TD Cowen reissued a “buy” rating on shares of DoorDash in a report on Wednesday, July 15th. Citigroup restated a “market outperform” rating on shares of DoorDash in a research report on Monday, June 22nd. KeyCorp decreased their price objective on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $265.00 target price on shares of DoorDash in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $252.89.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 74,927 shares of company stock valued at $13,241,532. 5.83% of the stock is owned by company insiders.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $177.73 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The firm has a market capitalization of $77.44 billion, a PE ratio of 84.63 and a beta of 1.78. The business’s 50 day moving average price is $171.62 and its 200-day moving average price is $176.41.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm’s revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. As a group, equities research analysts expect that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal year.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.