iA Global Asset Management Inc. Sells 17,300 Shares of DoorDash, Inc. $DASH

iA Global Asset Management Inc. lessened its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 17.8% in the first quarter, HoldingsChannel.com reports. The firm owned 79,751 shares of the company’s stock after selling 17,300 shares during the quarter. iA Global Asset Management Inc.’s holdings in DoorDash were worth $11,975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of DoorDash by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after buying an additional 713,571 shares during the period. SC US Ttgp LTD. boosted its position in DoorDash by 1.6% during the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock valued at $7,176,387,000 after buying an additional 506,358 shares during the period. Morgan Stanley boosted its position in DoorDash by 2.3% during the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock valued at $3,971,741,000 after buying an additional 391,596 shares during the period. State Street Corp grew its holdings in DoorDash by 3.0% in the 4th quarter. State Street Corp now owns 15,761,072 shares of the company’s stock worth $3,569,568,000 after acquiring an additional 464,448 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in DoorDash by 32.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after acquiring an additional 3,447,754 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Activity

In other news, insider Keith Yandell sold 2,643 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total value of $410,563.62. Following the sale, the insider directly owned 81,106 shares of the company’s stock, valued at $12,599,006.04. The trade was a 3.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 64,140 shares of company stock valued at $10,327,989. 5.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $265.00 target price on shares of DoorDash in a report on Thursday, May 7th. The Goldman Sachs Group set a $280.00 target price on DoorDash in a research note on Thursday, May 7th. Citigroup restated a “market outperform” rating on shares of DoorDash in a report on Monday, June 22nd. Finally, Argus set a $190.00 price target on DoorDash in a research report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $256.11.

DoorDash Trading Down 0.2%

Shares of NASDAQ DASH opened at $184.53 on Wednesday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a 50-day moving average of $165.62 and a 200 day moving average of $180.97. The stock has a market cap of $80.40 billion, a P/E ratio of 87.87 and a beta of 1.83.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. The business’s revenue was up 33.1% compared to the same quarter last year. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

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.