iA Global Asset Management Inc. Purchases 74,219 Shares of DoorDash, Inc. $DASH

iA Global Asset Management Inc. grew its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 143.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,102 shares of the company’s stock after purchasing an additional 74,219 shares during the period. iA Global Asset Management Inc.’s holdings in DoorDash were worth $31,085,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its stake in DoorDash by 2.6% during the second quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock worth $415,000 after purchasing an additional 42 shares during the last quarter. Triglav Investments D.O.O. bought a new stake in DoorDash during the second quarter worth about $7,519,000. Accuvest Global Advisors bought a new stake in DoorDash during the second quarter worth about $302,000. Kesler Norman & Wride LLC bought a new stake in DoorDash during the second quarter worth about $232,000. Finally, Lifeworks Advisors LLC bought a new stake in DoorDash during the second quarter worth about $218,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 0.1%

Shares of NASDAQ:DASH opened at $254.37 on Friday. DoorDash, Inc. has a 1 year low of $152.26 and a 1 year high of $285.50. The company has a market cap of $108.67 billion, a PE ratio of 141.32 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The stock’s 50-day moving average is $260.98 and its 200 day moving average is $236.05.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the business earned ($0.38) EPS. DoorDash’s revenue was up 24.9% compared to the same quarter last year. Sell-side analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on DASH. Cantor Fitzgerald reiterated an “overweight” rating and issued a $330.00 price objective on shares of DoorDash in a report on Wednesday, September 17th. BTIG Research reiterated a “buy” rating and issued a $315.00 price objective on shares of DoorDash in a report on Monday, October 20th. Barclays began coverage on DoorDash in a report on Friday, October 24th. They issued an “equal weight” rating and a $272.00 price objective on the stock. Stifel Nicolaus lifted their price objective on DoorDash from $214.00 to $239.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Finally, Loop Capital reiterated a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $291.88.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the sale, the director directly owned 22,545 shares of the company’s stock, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the sale, the chief executive officer directly owned 229,047 shares in the company, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 852,704 shares of company stock worth $213,921,205 in the last quarter. 5.83% of the stock is currently owned by company insiders.

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.