iA Global Asset Management Inc. Lowers Stock Holdings in DoorDash, Inc. $DASH

iA Global Asset Management Inc. reduced its position in DoorDash, Inc. (NASDAQ:DASH) by 17.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,751 shares of the company’s stock after selling 17,300 shares during the quarter. iA Global Asset Management Inc.’s holdings in DoorDash were worth $11,975,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in DoorDash by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after purchasing an additional 713,571 shares in the last quarter. SC US Ttgp LTD. grew its position in shares of DoorDash by 1.6% during the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock valued at $7,176,387,000 after purchasing an additional 506,358 shares in the last quarter. Morgan Stanley grew its position in shares of DoorDash by 2.3% during the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock valued at $3,971,741,000 after purchasing an additional 391,596 shares in the last quarter. State Street Corp increased its holdings in shares of DoorDash by 3.0% in the fourth quarter. State Street Corp now owns 15,761,072 shares of the company’s stock worth $3,569,568,000 after purchasing an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DASH shares. Moffett Nathanson set a $276.00 price objective on DoorDash in a research report on Wednesday, April 15th. Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Argus set a $190.00 price target on DoorDash in a report on Thursday, June 11th. Finally, Piper Sandler dropped their price target on DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.11.

Insiders Place Their Bets

In other DoorDash news, insider Keith Yandell sold 2,643 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the sale, the insider directly owned 81,106 shares of the company’s stock, valued at $12,599,006.04. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. The trade was a 2.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 64,140 shares of company stock valued at $10,327,989 over the last three months. 5.83% of the stock is currently owned by company insiders.

DoorDash Trading Down 0.2%

DASH stock opened at $184.53 on Wednesday. The company has a market capitalization of $80.40 billion, a PE ratio of 87.87 and a beta of 1.83. 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 one year low of $143.30 and a one year high of $285.50. The company’s 50 day moving average price is $165.62 and its two-hundred day moving average price is $180.97.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) 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 company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue was up 33.1% on a year-over-year basis. As a group, analysts predict that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

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.