Generate Investment Management Ltd Acquires Shares of 55,198 DoorDash, Inc. $DASH

Generate Investment Management Ltd bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 55,198 shares of the company’s stock, valued at approximately $12,501,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DASH. Physician Wealth Advisors Inc. grew its position in DoorDash by 284.0% during the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after buying an additional 71 shares during the period. Sunbelt Securities Inc. raised its position in DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after acquiring an additional 67 shares during the period. Morse Asset Management Inc bought a new stake in DoorDash in the third quarter worth about $36,000. Sound Income Strategies LLC boosted its stake in DoorDash by 2,760.0% in the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock valued at $39,000 after acquiring an additional 138 shares during the last quarter. Finally, Rossby Financial LCC grew its position in shares of DoorDash by 127.8% during the 3rd quarter. Rossby Financial LCC now owns 164 shares of the company’s stock valued at $44,000 after acquiring an additional 92 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $209.01, for a total value of $9,491,144.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Prabir Adarkar sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $204.59, for a total value of $3,068,850.00. Following the sale, the chief operating officer owned 874,130 shares in the company, valued at approximately $178,838,256.70. The trade was a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 167,317 shares of company stock valued at $35,720,931. 5.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DASH. Zacks Research upgraded shares of DoorDash from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 12th. Wells Fargo & Company dropped their price objective on DoorDash from $251.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 19th. Oppenheimer reduced their price objective on DoorDash from $280.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Citizens Jmp decreased their target price on DoorDash from $285.00 to $250.00 and set a “market outperform” rating for the company in a research report on Friday, February 20th. Finally, Stifel Nicolaus lowered their target price on DoorDash from $253.00 to $224.00 and set a “hold” rating on the stock in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $263.82.

DoorDash Stock Performance

Shares of DASH stock opened at $146.60 on Friday. The firm’s 50 day moving average is $178.64 and its 200 day moving average is $216.74. The stock has a market capitalization of $63.69 billion, a P/E ratio of 69.15 and a beta of 1.82. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. On average, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.