BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Position in DoorDash, Inc. (NASDAQ:DASH)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Baillie Gifford & Co. grew its stake in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC grew its position in shares of DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of DoorDash by 16.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,787,843 shares of the company’s stock valued at $303,262,000 after acquiring an additional 392,300 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of DoorDash by 10.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,539 shares of the company’s stock valued at $244,859,000 after acquiring an additional 159,449 shares during the period. Finally, Bank of New York Mellon Corp raised its position in DoorDash by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,387,113 shares of the company’s stock valued at $150,890,000 after purchasing an additional 188,612 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

DASH stock opened at $180.48 on Monday. The company has a 50 day moving average price of $158.11 and a two-hundred day moving average price of $131.20. The stock has a market capitalization of $74.97 billion, a P/E ratio of -401.07, a PEG ratio of 13.88 and a beta of 1.67. DoorDash, Inc. has a one year low of $92.58 and a one year high of $181.30.

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

Insider Activity

In related news, insider Keith Yandell sold 7,980 shares of the stock in a transaction on 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 transaction, the insider now directly owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,334 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total value of $19,507,703.38. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $270,105. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 654,596 shares of company stock valued at $104,128,585 in the last 90 days. 7.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DASH shares. Citigroup increased their target price on shares of DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Benchmark lifted their target price on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group upped their price target on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. BMO Capital Markets lifted their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Roth Mkm boosted their price objective on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.06.

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.