Everence Capital Management Inc. Purchases Shares of 8,110 DoorDash, Inc. (NASDAQ:DASH)

Everence Capital Management Inc. acquired a new position in DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,110 shares of the company’s stock, valued at approximately $1,360,000.

A number of other hedge funds have also made changes to their positions in the business. Asset Management One Co. Ltd. boosted its position in DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the period. Marshall Wace LLP boosted its position in shares of DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after buying an additional 610,388 shares during the period. Forsta AP Fonden grew its stake in shares of DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after buying an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after buying an additional 3,498 shares during the period. Finally, Baillie Gifford & Co. lifted 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 in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DASH shares. The Goldman Sachs Group lifted their price objective on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Oppenheimer boosted their price objective on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. DA Davidson raised their target price on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho boosted their price target on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price target on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $171.42.

DoorDash Price Performance

DASH opened at $174.96 on Friday. The business has a 50 day moving average price of $171.36 and a two-hundred day moving average price of $141.52. The company has a market capitalization of $72.68 billion, a price-to-earnings ratio of -388.80, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $93.33 and a 1-year high of $181.78.

DoorDash (NASDAQ:DASH) last announced its 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 return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business posted ($0.19) earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. Equities analysts expect that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at $2,710,274.87. This trade represents a 73.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Insiders have sold 1,082,694 shares of company stock valued at $183,152,786 in the last quarter. 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.