Plato Investment Management Ltd Raises Position in DoorDash, Inc. (NASDAQ:DASH)

Plato Investment Management Ltd raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,428 shares of the company’s stock after buying an additional 238 shares during the quarter. Plato Investment Management Ltd’s holdings in DoorDash were worth $1,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DASH. Wells Fargo & Company MN raised its stake in DoorDash by 102.5% in the fourth quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after purchasing an additional 100,787 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of DoorDash during the 1st quarter valued at $2,969,000. Bank of Nova Scotia lifted its holdings in shares of DoorDash by 298.3% during the 4th quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock worth $18,413,000 after acquiring an additional 139,450 shares during the last quarter. Franklin Resources Inc. increased its stake in DoorDash by 294.5% in the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after acquiring an additional 1,200,181 shares during the last quarter. Finally, D L Carlson Investment Group Inc. purchased a new stake in DoorDash during the fourth quarter valued at about $2,421,000. 90.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the sale, the chief financial officer now owns 396,152 shares in the company, valued at approximately $50,651,994.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,769 shares of company stock worth $28,250,113. Insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DASH. Needham & Company LLC boosted their target price on DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Oppenheimer increased their target price on shares of DoorDash from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. KeyCorp assumed coverage on DoorDash in a research note on Thursday, July 11th. They set a “sector weight” rating on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $125.00 target price (up previously from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.57.

DoorDash Trading Up 0.9 %

DASH opened at $131.35 on Monday. The company has a market cap of $53.71 billion, a price-to-earnings ratio of -121.62, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69. The stock has a fifty day simple moving average of $118.66 and a two-hundred day simple moving average of $121.28. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $143.34.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the business earned ($0.44) earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that DoorDash, Inc. will post 0.01 EPS for the current year.

DoorDash Profile

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.