Connor Clark & Lunn Investment Management Ltd. Buys 179,174 Shares of DoorDash, Inc. $DASH

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 55.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,461 shares of the company’s stock after purchasing an additional 179,174 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of DoorDash worth $123,862,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DASH. Vanguard Group Inc. grew its holdings in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after buying an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after acquiring an additional 641,601 shares during the last quarter. Invesco Ltd. grew its stake in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Northern Trust Corp lifted its position in shares of DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock worth $604,829,000 after purchasing an additional 915,512 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in DoorDash by 36.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company’s stock worth $576,089,000 after purchasing an additional 842,637 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Up 4.0%

DASH stock opened at $204.31 on Friday. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50. The stock has a market cap of $87.28 billion, a price-to-earnings ratio of 103.71 and a beta of 1.70. The company has a fifty day moving average price of $258.75 and a two-hundred day moving average price of $237.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.07.

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 the consensus estimate of $0.68 by ($0.13). The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. DoorDash’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DASH shares. Truist Financial upped their target price on DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Bank of America lowered their price target on DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday. Cantor Fitzgerald dropped their price objective on DoorDash from $330.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday. Stifel Nicolaus decreased their target price on shares of DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Needham & Company LLC set a $300.00 target price on shares of DoorDash and gave the stock a “buy” rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $280.62.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total transaction of $11,048,707.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 291,403 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the sale, the chief executive officer owned 229,047 shares of the company’s stock, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 876,527 shares of company stock valued at $218,129,954 in the last three months. 5.83% of the stock is currently owned by company insiders.

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.