DoorDash, Inc. (NASDAQ:DASH) Stock Position Reduced by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 69.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,925 shares of the company's stock after selling 16,000 shares during the period. Ontario Teachers Pension Plan Board's holdings in DoorDash were worth $988,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. raised its stake in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock valued at $25,000 after acquiring an additional 130 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of DoorDash during the second quarter valued at $32,000. Meeder Asset Management Inc. raised its stake in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company's stock valued at $32,000 after acquiring an additional 132 shares during the last quarter. Versant Capital Management Inc raised its stake in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company's stock worth $36,000 after buying an additional 259 shares during the last quarter. Finally, Quest Partners LLC raised its stake in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company's stock worth $37,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Up 0.7 %

Shares of NASDAQ DASH traded up $1.19 during trading on Thursday, hitting $173.39. 650,215 shares of the company were exchanged, compared to its average volume of 3,796,002. The company has a fifty day moving average price of $151.82 and a 200-day moving average price of $128.14. DoorDash, Inc. has a 12-month low of $92.56 and a 12-month high of $178.16.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) earnings per share. As a group, equities analysts anticipate that DoorDash, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the transaction, the chief financial officer now owns 396,152 shares of the company's stock, valued at $50,651,994.72. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 482,871 shares of company stock worth $73,516,353. 7.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DASH. Oppenheimer lifted their price objective on shares of DoorDash from $145.00 to $160.00 and gave the company an "outperform" rating in a report on Friday, September 27th. JPMorgan Chase & Co. lifted their price objective on shares of DoorDash from $137.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted 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. Wells Fargo & Company lifted their price objective on shares of DoorDash from $127.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group lifted their price objective on shares of DoorDash from $155.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $164.03.

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.