Connor Clark & Lunn Investment Management Ltd. Has $5.67 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 73.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,689 shares of the company's stock after selling 108,777 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in DoorDash were worth $5,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its stake in shares of DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company's stock valued at $16,012,000 after purchasing an additional 10,755 shares during the period. Marshall Wace LLP grew its stake in shares of DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company's stock valued at $73,534,000 after purchasing an additional 610,388 shares during the period. Forsta AP Fonden grew its stake in shares of DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company's stock valued at $9,206,000 after purchasing an additional 10,100 shares during the period. Baillie Gifford & Co. grew its position in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Finally, CWM LLC grew its position in DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company's stock worth $1,528,000 after acquiring an additional 5,273 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Piper Sandler increased their price target on DoorDash from $125.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price target on DoorDash from $145.00 to $180.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on DoorDash from $142.00 to $161.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Mizuho increased their price target on DoorDash from $162.00 to $173.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, Roth Mkm increased their price target on DoorDash from $118.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $164.03.

DoorDash Trading Up 2.4 %

DASH stock opened at $177.24 on Friday. The stock has a 50-day moving average price of $153.61 and a two-hundred day moving average price of $128.87. DoorDash, Inc. has a 1 year low of $92.56 and a 1 year high of $178.16.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.38 EPS 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 return on equity of 2.41% and a negative net margin of 1.69%. The business's quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. As a group, equities research analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 7,000 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares of the company's stock, valued at approximately $50,651,994.72. This trade represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company's stock, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 547,753 shares of company stock worth $84,544,996. 7.92% of the stock is owned by insiders.

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.