Connor Clark & Lunn Investment Management Ltd. Decreases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 73.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,689 shares of the company’s stock after selling 108,777 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in DoorDash were worth $5,665,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its stake in DoorDash by 29.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,565 shares of the company’s stock worth $1,180,000 after purchasing an additional 1,944 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in DoorDash by 94.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,700 shares of the company’s stock worth $510,000 after acquiring an additional 1,800 shares during the last quarter. LRI Investments LLC purchased a new stake in DoorDash during the 1st quarter valued at about $105,000. Lazard Asset Management LLC raised its holdings in DoorDash by 18,975.0% in the 1st quarter. Lazard Asset Management LLC now owns 2,289 shares of the company’s stock valued at $314,000 after acquiring an additional 2,277 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after purchasing an additional 242,956 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price target on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price target on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Raymond James began coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on shares of DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.03.

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 1,855 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $315,312.90. Following the sale, the director now directly owns 35,413 shares in the company, valued at $6,019,501.74. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the transaction, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 547,753 shares of company stock worth $84,544,996 over the last 90 days. 7.92% of the stock is owned by insiders.

DoorDash Trading Up 2.4 %

NASDAQ:DASH opened at $177.24 on Friday. DoorDash, Inc. has a 12-month low of $92.56 and a 12-month high of $178.16. The firm has a market cap of $73.63 billion, a PE ratio of -393.87, a price-to-earnings-growth ratio of 14.82 and a beta of 1.67. The stock has a fifty day moving average price of $153.61 and a 200 day moving average price of $128.87.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) 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) EPS. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts forecast that DoorDash, Inc. will post 0.24 EPS for the current year.

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.