E Fund Management Co. Ltd. Acquires 6,308 Shares of DoorDash, Inc. (NASDAQ:DASH)

E Fund Management Co. Ltd. raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 136.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,926 shares of the company’s stock after acquiring an additional 6,308 shares during the period. E Fund Management Co. Ltd.’s holdings in DoorDash were worth $1,997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbour Investments Inc. raised its position in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares during the last quarter. SouthState Corp raised its position in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after acquiring an additional 183 shares during the last quarter. ORG Partners LLC raised its position in shares of DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company’s stock valued at $46,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC raised its position in shares of DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company’s stock valued at $48,000 after acquiring an additional 247 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. increased its position in shares of DoorDash by 150.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company’s stock valued at $55,000 after buying an additional 180 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of recent analyst reports. Raymond James Financial restated a “strong-buy” rating and issued a $325.00 price objective (up previously from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Wedbush restated a “neutral” rating on shares of DoorDash in a research report on Friday, August 8th. Truist Financial upped their price objective on shares of DoorDash from $272.00 to $326.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Benchmark upped their price objective on shares of DoorDash from $260.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC set a $300.00 price objective on shares of DoorDash and gave the company a “buy” rating in a research report on Thursday, August 7th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $263.88.

DoorDash Stock Down 3.8%

NASDAQ DASH opened at $254.20 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 1-year low of $122.32 and a 1-year high of $278.15. The company has a 50 day moving average of $238.66 and a 200-day moving average of $208.04. The company has a market cap of $107.72 billion, a price-to-earnings ratio of 141.22 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned ($0.38) earnings per share. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares of the company’s stock, valued at $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $244.78, for a total transaction of $348,811.50. Following the completion of the transaction, the chief financial officer directly owned 244,905 shares in the company, valued at $59,947,845.90. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 686,437 shares of company stock valued at $161,070,166 in the last quarter. Corporate insiders own 5.83% of the company’s stock.

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.