M&G Plc Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

M&G Plc purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 3rd quarter, Holdings Channel reports. The firm purchased 69,701 shares of the company’s stock, valued at approximately $9,967,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DASH. ORG Partners LLC grew its stake in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the period. Headlands Technologies LLC bought a new position in shares of DoorDash during the 2nd quarter valued at about $32,000. Meeder Asset Management Inc. grew its position in shares of 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 period. Versant Capital Management Inc increased its stake in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DoorDash news, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now owns 963,094 shares in the company, valued at $142,528,281.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 324,539 shares of company stock valued at $46,439,330. 7.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Susquehanna increased their target price on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Wolfe Research started coverage on DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price target on the stock. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective for the company in a report on Wednesday, September 25th. Finally, Morgan Stanley boosted their target price on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Price Performance

Shares of DASH opened at $170.59 on Friday. The company’s 50-day moving average is $143.32 and its 200-day moving average is $125.15. The firm has a market capitalization of $70.20 billion, a PE ratio of -379.09, a PEG ratio of 13.65 and a beta of 1.67. DoorDash, Inc. has a fifty-two week low of $83.58 and a fifty-two week high of $171.20.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business’s revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) EPS. Analysts predict that DoorDash, Inc. will post 0.23 earnings per share for the current fiscal year.

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.