E Fund Management Hong Kong Co. Ltd. Increases Stake in DoorDash, Inc. $DASH

E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 509.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 786 shares of the company’s stock after buying an additional 657 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in DoorDash were worth $194,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DASH. Brighton Jones LLC boosted its holdings in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the period. Miracle Mile Advisors LLC purchased a new position in DoorDash in the first quarter worth $249,000. Park Avenue Securities LLC increased its position in shares of DoorDash by 9.3% in the first quarter. Park Avenue Securities LLC now owns 10,017 shares of the company’s stock valued at $1,831,000 after buying an additional 850 shares in the last quarter. Wesbanco Bank Inc. purchased a new position in shares of DoorDash in the first quarter valued at $201,000. Finally, Yousif Capital Management LLC boosted its stake in shares of DoorDash by 803.5% during the first quarter. Yousif Capital Management LLC now owns 40,515 shares of the company’s stock valued at $7,405,000 after acquiring an additional 36,031 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

Shares of DASH stock opened at $281.05 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a fifty-two week low of $141.76 and a fifty-two week high of $285.08. The stock’s 50-day moving average is $257.55 and its two-hundred day moving average is $225.75. The firm has a market cap of $120.06 billion, a P/E ratio of 156.14 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the firm posted ($0.38) EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. Analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.20, for a total transaction of $8,046,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shona L. Brown sold 825 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $280.00, for a total value of $231,000.00. Following the transaction, the director owned 38,502 shares of the company’s stock, valued at $10,780,560. This trade represents a 2.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,001,054 shares of company stock worth $249,511,188 in the last three months. Company insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the topic of a number of analyst reports. Susquehanna increased their price objective on DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a research note on Monday, August 11th. Stifel Nicolaus lifted their price objective on DoorDash from $214.00 to $239.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Zacks Research upgraded DoorDash to a “hold” rating in a report on Tuesday, August 12th. Raymond James Financial restated a “strong-buy” rating and set a $325.00 price objective (up from $275.00) on shares of DoorDash in a report on Thursday, August 7th. Finally, Piper Sandler lifted their target price on DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $275.27.

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.