Temasek Holdings Private Ltd Purchases 1,145,078 Shares of DoorDash, Inc. $DASH

Temasek Holdings Private Ltd boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 49.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,461,501 shares of the company’s stock after buying an additional 1,145,078 shares during the quarter. DoorDash makes up about 1.7% of Temasek Holdings Private Ltd’s holdings, making the stock its 12th largest position. Temasek Holdings Private Ltd’s holdings in DoorDash were worth $519,744,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of DoorDash in the first quarter valued at $7,901,000. ABN Amro Investment Solutions grew its stake in shares of DoorDash by 11.9% during the 1st quarter. ABN Amro Investment Solutions now owns 22,683 shares of the company’s stock worth $3,406,000 after acquiring an additional 2,414 shares during the period. Oslo Pensjonsforsikring AS purchased a new stake in DoorDash in the 1st quarter worth about $91,000. Andra AP fonden increased its holdings in DoorDash by 44.0% in the 1st quarter. Andra AP fonden now owns 154,300 shares of the company’s stock worth $23,168,000 after acquiring an additional 47,160 shares during the last quarter. Finally, Wilkerson Advisory Group LLC raised its stake in DoorDash by 1,303.8% in the 1st quarter. Wilkerson Advisory Group LLC now owns 744 shares of the company’s stock valued at $112,000 after acquiring an additional 691 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on DASH. TD Cowen reiterated a “buy” rating on shares of DoorDash in a research report on Wednesday, July 15th. DA Davidson lowered their price target on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company dropped their price target on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. UBS Group raised their price objective on shares of DoorDash from $206.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Guggenheim reiterated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

DoorDash Price Performance

DASH stock opened at $188.04 on Wednesday. The firm has a 50 day simple moving average of $171.05 and a two-hundred day simple moving average of $176.75. The stock has a market cap of $81.93 billion, a PE ratio of 89.54 and a beta of 1.78. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the company posted $0.44 EPS. The business’s quarterly revenue was up 33.1% on a year-over-year basis. On average, analysts predict that DoorDash, Inc. will post 2.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer owned 959,076 shares of the company’s stock, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total value of $4,421,268.75. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 74,927 shares of company stock valued at $13,241,532 over the last quarter. Insiders own 5.83% of the company’s stock.

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.