IFM Investors Pty Ltd Raises Stock Holdings in DoorDash, Inc. $DASH

IFM Investors Pty Ltd grew its position in DoorDash, Inc. (NASDAQ:DASH) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,012 shares of the company’s stock after acquiring an additional 3,846 shares during the quarter. IFM Investors Pty Ltd’s holdings in DoorDash were worth $11,563,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Intech Investment Management LLC grew its stake in shares of DoorDash by 707.8% in the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock valued at $57,378,000 after purchasing an additional 221,985 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of DoorDash during the fourth quarter worth $41,712,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of DoorDash by 9.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock worth $35,548,000 after purchasing an additional 13,121 shares during the period. Jefferies Financial Group Inc. grew its position in DoorDash by 136.6% in the 3rd quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company’s stock valued at $11,520,000 after buying an additional 24,454 shares during the last quarter. Finally, Brighton Jones LLC grew its position in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a report on Tuesday, June 23rd. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price target on shares of DoorDash in a report on Thursday, May 7th. Wells Fargo & Company upped their price objective on DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Moffett Nathanson set a $276.00 target price on DoorDash in a report on Wednesday, April 15th. Finally, Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $256.11.

DoorDash Trading Up 2.4%

Shares of DASH opened at $188.87 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The stock has a market cap of $82.29 billion, a price-to-earnings ratio of 89.94 and a beta of 1.78. The firm has a 50 day simple moving average of $165.60 and a 200-day simple moving average of $180.72.

DoorDash (NASDAQ:DASH) last posted its earnings results 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. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.DoorDash’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Equities analysts forecast that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction dated Friday, May 22nd. The stock was 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. This trade represents a 2.09% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 42,707 shares of company stock valued at $7,113,039. Insiders own 5.83% of the company’s stock.

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.