DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 69.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,925 shares of the company’s stock after selling 16,000 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in DoorDash were worth $988,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its position in DoorDash by 86.4% in the third quarter. First Horizon Advisors Inc. now owns 656 shares of the company’s stock worth $94,000 after buying an additional 304 shares during the last quarter. Commerce Bank grew its position in DoorDash by 63.9% during the 3rd quarter. Commerce Bank now owns 6,525 shares of the company’s stock worth $931,000 after purchasing an additional 2,543 shares in the last quarter. PNC Financial Services Group Inc. grew its position in DoorDash by 4.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 16,565 shares of the company’s stock worth $2,364,000 after purchasing an additional 676 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of DoorDash during the 3rd quarter valued at $1,026,000. Finally, Caprock Group LLC boosted its stake in shares of DoorDash by 48.2% during the 3rd quarter. Caprock Group LLC now owns 3,409 shares of the company’s stock valued at $487,000 after buying an additional 1,109 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Down 2.3 %

Shares of DoorDash stock opened at $172.20 on Thursday. The stock has a market capitalization of $71.53 billion, a price-to-earnings ratio of -382.67, a P/E/G ratio of 14.26 and a beta of 1.67. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16. The firm’s 50-day moving average price is $151.82 and its two-hundred day moving average price is $128.14.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. As a group, equities research analysts predict that DoorDash, Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DASH. Piper Sandler lifted their target price on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Susquehanna upped their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Mizuho upped their price objective on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial upped their price objective on shares of DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, DA Davidson upped their price objective on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $164.03.

Insider Activity

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. This trade represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Insiders have sold 482,871 shares of company stock valued at $73,516,353 over the last three months. 7.92% of the stock is owned by insiders.

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.