iA Global Asset Management Inc. Has $35.88 Million Stock Position in DoorDash, Inc. $DASH

iA Global Asset Management Inc. boosted its stake in DoorDash, Inc. (NASDAQ:DASH) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,903 shares of the company’s stock after acquiring an additional 5,801 shares during the period. iA Global Asset Management Inc.’s holdings in DoorDash were worth $35,876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DASH. GFG Capital LLC bought a new stake in shares of DoorDash in the 2nd quarter valued at $30,000. Sound Income Strategies LLC raised its stake in DoorDash by 2,760.0% during the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock worth $39,000 after buying an additional 138 shares during the last quarter. Asset Planning Inc acquired a new position in DoorDash in the third quarter valued at $50,000. NewSquare Capital LLC lifted its holdings in DoorDash by 610.3% in the second quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $51,000 after buying an additional 177 shares during the period. Finally, CX Institutional boosted its position in DoorDash by 3,660.0% during the third quarter. CX Institutional now owns 188 shares of the company’s stock valued at $51,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DASH shares. UBS Group raised DoorDash from a “buy” rating to a “mixed” rating in a research report on Tuesday. Needham & Company LLC decreased their target price on DoorDash from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, November 14th. The Goldman Sachs Group lowered their target price on DoorDash from $315.00 to $279.00 and set a “buy” rating for the company in a report on Friday, November 7th. Exane BNP Paribas upgraded DoorDash to a “strong-buy” rating in a report on Wednesday, January 14th. Finally, Cantor Fitzgerald raised their price objective on shares of DoorDash from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $281.26.

DoorDash Trading Up 0.6%

NASDAQ DASH opened at $207.65 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The business has a 50 day moving average price of $217.08 and a 200-day moving average price of $239.46. The company has a market cap of $89.50 billion, a price-to-earnings ratio of 105.41 and a beta of 1.70.

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 during the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. As a group, equities analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $234.57, for a total value of $7,037,100.00. Following the transaction, the chief operating officer owned 874,130 shares of the company’s stock, valued at approximately $205,044,674.10. This trade represents a 3.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $205.07, for a total value of $9,312,228.70. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 632,885 shares of company stock valued at $133,222,817. 5.83% of the stock is currently owned by insiders.

About DoorDash

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.