The Manufacturers Life Insurance Company Has $7.15 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

The Manufacturers Life Insurance Company raised its position in DoorDash, Inc. (NASDAQ:DASH) by 13.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,706 shares of the company’s stock after acquiring an additional 7,853 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in DoorDash were worth $7,146,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new stake in DoorDash in the second quarter valued at approximately $32,000. Versant Capital Management Inc lifted its position in shares of 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 buying an additional 259 shares during the last quarter. ORG Partners LLC boosted its stake in shares of DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares during the period. Finally, Quest Partners LLC increased its holdings in shares of DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

DASH has been the subject of several research reports. Redburn Atlantic assumed coverage on DoorDash in a report on Friday, July 26th. They set a “buy” rating and a $170.00 price target for the company. Susquehanna raised their target price on shares of DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, August 5th. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of DoorDash in a research note on Tuesday, July 30th. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, September 19th. Finally, UBS Group upped their target price on DoorDash from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $146.91.

DoorDash Price Performance

Shares of DoorDash stock opened at $144.86 on Friday. The company’s 50 day moving average price is $129.04 and its two-hundred day moving average price is $122.36. The firm has a market capitalization of $59.24 billion, a P/E ratio of -134.13, a P/E/G ratio of 295.70 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $146.36.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned ($0.44) EPS. The company’s revenue was up 23.3% on a year-over-year basis. On average, analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DoorDash news, Director Shona L. Brown sold 5,005 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the sale, the director now owns 65,186 shares in the company, valued at approximately $7,822,320. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,503 shares of company stock worth $33,988,063. Insiders own 7.92% of the company’s stock.

DoorDash Company Profile

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.