Future Fund LLC Grows Stock Position in DoorDash, Inc. $DASH

Future Fund LLC boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 7.7% during the second quarter, HoldingsChannel reports. The fund owned 7,897 shares of the company’s stock after buying an additional 564 shares during the period. DoorDash comprises 0.9% of Future Fund LLC’s holdings, making the stock its 26th biggest position. Future Fund LLC’s holdings in DoorDash were worth $1,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DASH. Sound View Wealth Advisors Group LLC acquired a new position in shares of DoorDash in the 2nd quarter valued at $925,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in DoorDash by 55.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,461 shares of the company’s stock valued at $123,862,000 after buying an additional 179,174 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in DoorDash by 8.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 752,469 shares of the company’s stock valued at $185,491,000 after buying an additional 59,563 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in DoorDash by 34.9% in the second quarter. Parkside Financial Bank & Trust now owns 588 shares of the company’s stock valued at $145,000 after buying an additional 152 shares during the last quarter. Finally, Aviva PLC boosted its stake in DoorDash by 9.2% during the second quarter. Aviva PLC now owns 267,785 shares of the company’s stock worth $66,012,000 after buying an additional 22,589 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of DoorDash from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price target on DoorDash from $301.00 to $239.00 and set an “equal weight” rating on the stock in a research note on Thursday. Oppenheimer restated an “outperform” rating and set a $280.00 price target on shares of DoorDash in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on DoorDash from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $280.62.

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $263.86, for a total transaction of $376,000.50. Following the completion of the sale, the chief financial officer directly owned 214,147 shares of the company’s stock, valued at $56,504,827.42. The trade was a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $244.39, for a total value of $7,331,700.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 876,527 shares of company stock worth $218,129,954. 5.83% of the stock is currently owned by insiders.

DoorDash Stock Up 4.0%

Shares of NASDAQ DASH opened at $204.31 on Friday. The stock has a market cap of $87.28 billion, a P/E ratio of 103.71 and a beta of 1.70. The business’s fifty day simple moving average is $258.75 and its 200-day simple moving average is $237.66. DoorDash, Inc. has a 12-month low of $155.40 and a 12-month high of $285.50. The company has a current ratio of 2.04, a quick ratio of 2.07 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.DoorDash’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. As a group, equities analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.