DoorDash, Inc. $DASH Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 42.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 13,696 shares of the company’s stock after purchasing an additional 4,101 shares during the period. OMERS ADMINISTRATION Corp’s holdings in DoorDash were worth $2,056,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ashe Capital Management LP bought a new position in shares of DoorDash during the first quarter worth about $40,090,000. Dai ichi Life Insurance Company Ltd raised its stake in DoorDash by 9.5% during the first quarter. Dai ichi Life Insurance Company Ltd now owns 17,749 shares of the company’s stock valued at $2,665,000 after buying an additional 1,539 shares in the last quarter. Renaissance Technologies LLC raised its stake in DoorDash by 7.8% during the first quarter. Renaissance Technologies LLC now owns 1,426,355 shares of the company’s stock valued at $214,167,000 after buying an additional 103,520 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in DoorDash during the 1st quarter worth approximately $364,000. Finally, Cetera Investment Advisers lifted its holdings in DoorDash by 22.6% during the 1st quarter. Cetera Investment Advisers now owns 47,282 shares of the company’s stock worth $7,099,000 after buying an additional 8,724 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 19,095 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at $148,896,549. This represents a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 74,927 shares of company stock worth $13,241,532 in the last three months. Insiders own 5.83% of the company’s stock.

DoorDash Trading Up 6.0%

NASDAQ:DASH opened at $195.52 on Wednesday. The stock has a market cap of $85.19 billion, a price-to-earnings ratio of 93.11 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The business has a fifty day moving average of $173.47 and a 200-day moving average of $175.12.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The company’s revenue was up 33.1% on a year-over-year basis. Equities analysts predict that DoorDash, Inc. will post 2.39 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DASH shares. Stifel Nicolaus dropped their price target on DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. BTIG Research decreased their price target on shares of DoorDash from $280.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Zacks Research lowered shares of DoorDash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, Argus set a $190.00 price objective on shares of DoorDash in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

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.