Mackenzie Financial Corp lifted its holdings in DoorDash, Inc. (NYSE:DASH – Get Rating) by 15.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,162 shares of the company’s stock after purchasing an additional 1,853 shares during the quarter. Mackenzie Financial Corp’s holdings in DoorDash were worth $909,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. IndexIQ Advisors LLC acquired a new position in shares of DoorDash in the first quarter valued at approximately $32,000. SCHRODERS IS Ltd acquired a new position in DoorDash in the 2nd quarter worth $57,000. Northwestern Mutual Wealth Management Co. increased its holdings in DoorDash by 22.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the company’s stock worth $63,000 after purchasing an additional 179 shares in the last quarter. National Bank of Canada FI raised its stake in shares of DoorDash by 114.5% in the 2nd quarter. National Bank of Canada FI now owns 1,139 shares of the company’s stock valued at $73,000 after purchasing an additional 608 shares during the period. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of DoorDash in the first quarter valued at about $104,000. 80.51% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Morgan Stanley increased their price objective on DoorDash from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, November 4th. Barclays cut their price objective on shares of DoorDash from $90.00 to $60.00 in a research report on Sunday, November 6th. Evercore ISI raised their target price on shares of DoorDash from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. The Goldman Sachs Group cut their price target on shares of DoorDash from $84.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Finally, Mizuho decreased their price objective on DoorDash from $87.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, November 4th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.30.
DoorDash Stock Performance
DoorDash (NYSE:DASH – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. DoorDash had a negative net margin of 14.51% and a negative return on equity of 14.94%. As a group, equities analysts forecast that DoorDash, Inc. will post -2.62 earnings per share for the current year.
Insider Buying and Selling at DoorDash
In related news, COO Christopher D. Payne sold 47,093 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $53.43, for a total value of $2,516,178.99. Following the transaction, the chief operating officer now directly owns 370,890 shares in the company, valued at $19,816,652.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, COO Christopher D. Payne sold 47,093 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $53.43, for a total transaction of $2,516,178.99. Following the transaction, the chief operating officer now owns 370,890 shares in the company, valued at approximately $19,816,652.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stanley Tang sold 4,076 shares of DoorDash stock in a transaction on Monday, November 21st. The shares were sold at an average price of $55.54, for a total value of $226,381.04. Following the completion of the transaction, the director now directly owns 31,217 shares of the company’s stock, valued at $1,733,792.18. The disclosure for this sale can be found here. Insiders have sold a total of 52,419 shares of company stock valued at $2,809,148 in the last ninety days. 12.10% of the stock is currently owned by corporate insiders.
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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