Royal London Asset Management Ltd. Purchases 7,660 Shares of DoorDash, Inc. (NASDAQ:DASH)

Royal London Asset Management Ltd. grew its position in DoorDash, Inc. (NASDAQ:DASH) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,542 shares of the company’s stock after purchasing an additional 7,660 shares during the quarter. Royal London Asset Management Ltd.’s holdings in DoorDash were worth $20,345,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of DASH. Point72 Italy S.r.l. bought a new stake in DoorDash during the third quarter valued at $5,732,000. PointState Capital LP lifted its stake in shares of DoorDash by 63.2% in the 3rd quarter. PointState Capital LP now owns 871,263 shares of the company’s stock valued at $124,355,000 after purchasing an additional 337,275 shares during the period. Polymer Capital Management HK LTD acquired a new stake in DoorDash during the third quarter worth approximately $343,000. Motley Fool Asset Management LLC increased its holdings in DoorDash by 4.2% in the third quarter. Motley Fool Asset Management LLC now owns 16,562 shares of the company’s stock worth $2,351,000 after purchasing an additional 674 shares in the last quarter. Finally, Investment Management Corp of Ontario increased its holdings in DoorDash by 108.5% in the third quarter. Investment Management Corp of Ontario now owns 13,253 shares of the company’s stock worth $1,892,000 after purchasing an additional 6,896 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Up 1.5 %

Shares of DASH stock opened at $178.48 on Friday. DoorDash, Inc. has a 12-month low of $93.33 and a 12-month high of $181.30. The company has a 50 day moving average of $161.58 and a 200-day moving average of $133.21. The firm has a market cap of $74.14 billion, a P/E ratio of -396.62, a PEG ratio of 13.54 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) earnings per share. As a group, equities analysts expect that DoorDash, Inc. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on DASH shares. Bank of America raised their price objective on shares of DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Evercore ISI lifted their price target on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. 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. Needham & Company LLC boosted their target price on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Raymond James assumed coverage on DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target on the stock. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.27.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Keith Yandell sold 7,980 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now directly owns 124,221 shares in the company, valued at approximately $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 838,722 shares of company stock valued at $136,732,309. Company insiders own 7.92% of the company’s stock.

DoorDash 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.