Royal London Asset Management Ltd. Buys 14,512 Shares of DoorDash, Inc. (NASDAQ:DASH)

Royal London Asset Management Ltd. increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 12.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 134,882 shares of the company’s stock after purchasing an additional 14,512 shares during the period. Royal London Asset Management Ltd.’s holdings in DoorDash were worth $14,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Choreo LLC bought a new position in shares of DoorDash during the second quarter valued at approximately $465,000. Prudential PLC boosted its stake in shares of DoorDash by 91.4% during the second quarter. Prudential PLC now owns 5,148 shares of the company’s stock valued at $560,000 after purchasing an additional 2,459 shares in the last quarter. Quest Partners LLC boosted its stake in shares of DoorDash by 146.8% during 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. Oak Thistle LLC purchased a new stake in DoorDash during the second quarter valued at approximately $285,000. Finally, Certuity LLC lifted its position in DoorDash by 1.0% during the second quarter. Certuity LLC now owns 53,219 shares of the company’s stock valued at $5,789,000 after acquiring an additional 536 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the sale, the director now owns 19,982 shares in the company, valued at approximately $2,109,499.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,769 shares of company stock worth $28,250,113. 7.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

DASH has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and set a $150.00 target price on shares of DoorDash in a research report on Tuesday, July 30th. Evercore ISI increased their target price on shares of DoorDash from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Barclays increased their target price on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Susquehanna increased their target price on shares of DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets increased their target price on shares of DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.57.

DoorDash Stock Performance

DASH stock opened at $130.19 on Friday. The firm has a market cap of $53.24 billion, a PE ratio of -120.55, a P/E/G ratio of 737.67 and a beta of 1.69. The firm’s fifty day moving average is $118.25 and its 200 day moving average is $121.22. DoorDash, Inc. has a one year low of $69.90 and a one year high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.44) EPS.

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.