AGF Management Ltd. Takes $7.79 Million Position in DoorDash, Inc. $DASH

AGF Management Ltd. bought a new position in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 31,604 shares of the company’s stock, valued at approximately $7,791,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares in the last quarter. AQR Capital Management LLC boosted its holdings in DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares during the period. Invesco Ltd. grew its position in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Nuveen LLC bought a new position in shares of DoorDash in the first quarter worth $211,415,000. Finally, Deutsche Bank AG increased its holdings in shares of DoorDash by 111.3% in the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock worth $367,313,000 after purchasing an additional 1,058,731 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $204.31 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock has a market cap of $87.28 billion, a PE ratio of 103.71 and a beta of 1.70. The company’s fifty day moving average is $258.75 and its 200 day moving average is $237.66. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. Research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on DASH. KeyCorp reaffirmed an “overweight” rating and issued a $325.00 price target (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Oppenheimer restated an “outperform” rating and issued a $280.00 price objective on shares of DoorDash in a research report on Thursday. Piper Sandler raised their target price on shares of DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Wells Fargo & Company cut their price target on shares of DoorDash from $301.00 to $239.00 and set an “equal weight” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.62.

Insider Transactions at DoorDash

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director owned 37,252 shares of the company’s stock, valued at $10,336,312.44. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $244.39, for a total transaction of $7,331,700.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 876,527 shares of company stock valued at $218,129,954. Insiders own 5.83% of the company’s stock.

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.