Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in DoorDash, Inc. (NASDAQ:DASH)

Connor Clark & Lunn Investment Management Ltd. lowered its position in DoorDash, Inc. (NASDAQ:DASH) by 73.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,689 shares of the company’s stock after selling 108,777 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in DoorDash were worth $5,665,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DASH. Commerce Bank lifted its holdings in shares of DoorDash by 63.9% in the 3rd quarter. Commerce Bank now owns 6,525 shares of the company’s stock worth $931,000 after buying an additional 2,543 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of DoorDash by 4.3% in the third quarter. PNC Financial Services Group Inc. now owns 16,565 shares of the company’s stock valued at $2,364,000 after acquiring an additional 676 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in DoorDash in the third quarter worth about $1,026,000. Caprock Group LLC grew its holdings in DoorDash by 48.2% during the 3rd quarter. Caprock Group LLC now owns 3,409 shares of the company’s stock worth $487,000 after acquiring an additional 1,109 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in DoorDash by 12.4% during the 3rd quarter. Meeder Advisory Services Inc. now owns 4,678 shares of the company’s stock worth $668,000 after acquiring an additional 517 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Prabir Adarkar sold 19,898 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $3,382,262.04. Following the transaction, the chief operating officer now owns 943,196 shares in the company, valued at $160,324,456.08. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Keith Yandell sold 7,980 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now directly owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 547,753 shares of company stock worth $84,544,996 in the last ninety days. Company insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

DASH has been the subject of several recent research reports. Oppenheimer boosted their price target on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. The Goldman Sachs Group boosted their price objective on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Bank of America increased their target price on DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Susquehanna boosted their price target on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Loop Capital raised their price objective on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Trading Up 2.4 %

DoorDash stock opened at $177.24 on Friday. The firm has a market cap of $73.63 billion, a PE ratio of -393.87, a P/E/G ratio of 14.82 and a beta of 1.67. DoorDash, Inc. has a 12 month low of $92.56 and a 12 month high of $178.16. The stock’s 50 day simple moving average is $153.61 and its two-hundred day simple moving average is $128.87.

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

DoorDash Company 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.