M&G PLC Invests $13.02 Million in DoorDash, Inc. $DASH

M&G PLC purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 47,857 shares of the company’s stock, valued at approximately $13,017,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Physician Wealth Advisors Inc. raised its position in shares of DoorDash by 284.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of DoorDash by 2,760.0% in the 3rd quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock worth $39,000 after purchasing an additional 138 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of DoorDash by 74.3% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 176 shares of the company’s stock worth $48,000 after purchasing an additional 75 shares during the period. Asset Planning Inc bought a new stake in DoorDash in the third quarter valued at about $50,000. Finally, Concord Wealth Partners bought a new stake in DoorDash in the third quarter valued at about $50,000. 90.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DASH shares. Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. UBS Group reiterated a “neutral” rating and issued a $245.00 price target on shares of DoorDash in a research report on Monday, February 2nd. Jefferies Financial Group boosted their price objective on shares of DoorDash from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Barclays lowered their target price on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Finally, Needham & Company LLC reduced their price target on shares of DoorDash from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $280.24.

DoorDash Stock Performance

Shares of DASH opened at $160.34 on Tuesday. The firm has a market cap of $69.11 billion, a P/E ratio of 81.39 and a beta of 1.78. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The firm’s 50 day moving average price is $211.95 and its two-hundred day moving average price is $233.25.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 1,017 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $215.14, for a total value of $218,797.38. Following the completion of the transaction, the chief financial officer directly owned 208,412 shares of the company’s stock, valued at approximately $44,837,757.68. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $181.28, for a total value of $226,600.00. Following the transaction, the director owned 32,252 shares of the company’s stock, valued at approximately $5,846,642.56. This trade represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 604,135 shares of company stock valued at $124,509,080 over the last quarter. 5.83% of the stock is currently owned by corporate insiders.

About DoorDash

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.