Canada Pension Plan Investment Board Sells 567,717 Shares of DoorDash, Inc. (NASDAQ:DASH)

Canada Pension Plan Investment Board lessened its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 63.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 324,162 shares of the company’s stock after selling 567,717 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.08% of DoorDash worth $35,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of DASH. ORG Partners LLC increased its holdings in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares during the period. Headlands Technologies LLC bought a new stake in DoorDash in the second quarter valued at about $32,000. Meeder Asset Management Inc. raised its position in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Hollencrest Capital Management acquired a new stake in DoorDash during the first quarter valued at approximately $42,000. Finally, Versant Capital Management Inc grew its position in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Up 1.8 %

Shares of DASH opened at $139.72 on Friday. The stock has a market cap of $57.13 billion, a P/E ratio of -129.37, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69. The stock’s 50-day moving average price is $121.37 and its two-hundred day moving average price is $121.58. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $143.34.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.44) EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 0.01 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Argus assumed coverage on shares of DoorDash in a research note on Tuesday, July 23rd. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their price target on shares of DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Susquehanna boosted their target price on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, August 5th. Finally, Redburn Atlantic began coverage on DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.00.

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 1,712 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the sale, the director now directly owns 70,191 shares in the company, valued at $7,789,095.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the completion of the transaction, the director now directly owns 70,191 shares of the company’s stock, valued at approximately $7,789,095.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 304,769 shares of company stock valued at $34,760,113. 7.92% of the stock is 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.