AGF Management Ltd. Sells 18,105 Shares of DoorDash, Inc. $DASH

AGF Management Ltd. cut its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 57.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,499 shares of the company’s stock after selling 18,105 shares during the quarter. AGF Management Ltd.’s holdings in DoorDash were worth $3,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock valued at $10,153,768,000 after buying an additional 1,792,799 shares during the period. State Street Corp grew its position in shares of DoorDash by 3.1% in the 2nd quarter. State Street Corp now owns 14,387,499 shares of the company’s stock worth $3,546,662,000 after buying an additional 427,722 shares during the period. Geode Capital Management LLC increased its stake in shares of DoorDash by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after acquiring an additional 223,188 shares in the last quarter. Invesco Ltd. lifted its position in DoorDash by 12.0% during the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock valued at $1,325,110,000 after acquiring an additional 575,629 shares during the period. Finally, Norges Bank bought a new stake in DoorDash during the second quarter worth about $1,185,576,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DoorDash news, Director Alfred Lin bought 389,047 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average cost of $193.81 per share, for a total transaction of $75,401,199.07. Following the completion of the transaction, the director owned 389,047 shares of the company’s stock, valued at $75,401,199.07. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $234.57, for a total value of $7,037,100.00. Following the completion of the transaction, the chief operating officer directly owned 874,130 shares in the company, valued at approximately $205,044,674.10. This represents a 3.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 557,412 shares of company stock valued at $114,778,269 in the last 90 days. Insiders own 5.83% of the company’s stock.

DoorDash Price Performance

DASH opened at $202.00 on Wednesday. The company’s 50-day simple moving average is $218.27 and its two-hundred day simple moving average is $237.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $87.06 billion, a P/E ratio of 102.54 and a beta of 1.77. DoorDash, Inc. has a 52-week low of $155.40 and a 52-week high of $285.50.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DASH shares. Argus decreased their target price on shares of DoorDash from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Susquehanna reduced their price objective on DoorDash from $300.00 to $250.00 and set a “positive” rating for the company in a research report on Friday, November 7th. Citigroup reissued a “market outperform” rating on shares of DoorDash in a research note on Monday, November 24th. DA Davidson reaffirmed a “neutral” rating and issued a $260.00 price target on shares of DoorDash in a research report on Thursday, November 6th. Finally, Wolfe Research set a $270.00 price objective on shares of DoorDash in a research report on Monday, January 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $279.09.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.