The Manufacturers Life Insurance Company Sells 201 Shares of DoorDash, Inc. (NASDAQ:DASH)

The Manufacturers Life Insurance Company cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 65,505 shares of the company’s stock after selling 201 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in DoorDash were worth $9,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the period. Headlands Technologies LLC purchased a new position in shares of DoorDash in the second quarter valued at $32,000. Quest Partners LLC grew its position in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in DoorDash by 141.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of DoorDash stock opened at $176.09 on Wednesday. DoorDash, Inc. has a 12-month low of $93.33 and a 12-month high of $181.30. The company’s fifty day simple moving average is $158.85 and its two-hundred day simple moving average is $131.73.

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. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 661,596 shares of company stock valued at $105,386,905. 7.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DASH shares. Evercore ISI lifted their target price on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Truist Financial upped their target price on shares of DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler raised their price target on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Mizuho increased their price objective on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Ten equities research 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 stock presently has an average rating of “Moderate Buy” and an average price target of $166.06.

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.