Mackenzie Financial Corp Increases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Mackenzie Financial Corp boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 38.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,219 shares of the company’s stock after acquiring an additional 4,197 shares during the quarter. Mackenzie Financial Corp’s holdings in DoorDash were worth $1,505,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in DoorDash by 3.0% during the third quarter. Vanguard Group Inc. now owns 27,043,520 shares of the company’s stock worth $2,149,149,000 after buying an additional 781,861 shares during the period. Baillie Gifford & Co. boosted its stake in shares of DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after purchasing an additional 772,977 shares during the period. Northern Trust Corp boosted its stake in shares of DoorDash by 7.2% in the third quarter. Northern Trust Corp now owns 1,830,630 shares of the company’s stock valued at $145,480,000 after purchasing an additional 123,449 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after purchasing an additional 1,052,198 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of DoorDash by 14.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,098,708 shares of the company’s stock valued at $87,314,000 after purchasing an additional 141,787 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In other news, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $104.89, for a total value of $367,115.00. Following the transaction, the insider now directly owns 179,350 shares of the company’s stock, valued at approximately $18,812,021.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $104.89, for a total value of $367,115.00. Following the transaction, the insider now directly owns 179,350 shares in the company, valued at approximately $18,812,021.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The disclosure for this sale can be found here. Insiders have sold 497,282 shares of company stock valued at $64,885,042 in the last ninety days. 9.59% of the stock is currently owned by company insiders.

DoorDash Price Performance

Shares of DoorDash stock opened at $126.76 on Thursday. The firm’s fifty day simple moving average is $130.95 and its 200-day simple moving average is $108.06. The stock has a market capitalization of $51.21 billion, a price-to-earnings ratio of -88.64, a PEG ratio of 14.16 and a beta of 1.79. DoorDash, Inc. has a 12 month low of $56.59 and a 12 month high of $143.34.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.63) earnings per share. Analysts anticipate that DoorDash, Inc. will post 0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DASH shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Mizuho raised their price objective on shares of DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Jefferies Financial Group raised shares of DoorDash from a “hold” rating to a “buy” rating and raised their price objective for the company from $90.00 to $130.00 in a research note on Monday, January 8th. BMO Capital Markets raised their price objective on shares of DoorDash from $120.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Wells Fargo & Company raised their target price on shares of DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.52.

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.