Harel Insurance Investments & Financial Services Ltd. Acquires New Shares in DoorDash, Inc. (NASDAQ:DASH)

Harel Insurance Investments & Financial Services Ltd. bought a new position in DoorDash, Inc. (NASDAQ:DASH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 410 shares of the company’s stock, valued at approximately $69,000.

Several other hedge funds have also recently modified their holdings of DASH. Envestnet Asset Management Inc. increased its holdings in DoorDash by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 79,476 shares of the company’s stock worth $8,645,000 after buying an additional 1,828 shares in the last quarter. Insigneo Advisory Services LLC purchased a new position in shares of DoorDash during the second quarter valued at approximately $223,000. MBB Public Markets I LLC bought a new position in DoorDash during the second quarter valued at approximately $2,160,000. The Manufacturers Life Insurance Company lifted its position in DoorDash by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 65,706 shares of the company’s stock valued at $7,146,000 after purchasing an additional 7,853 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in DoorDash by 4.6% in the second quarter. Mackenzie Financial Corp now owns 18,073 shares of the company’s stock worth $1,966,000 after purchasing an additional 789 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In related news, CEO Tony Xu sold 108,334 shares of DoorDash stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the completion of the sale, the chief executive officer now owns 1,500 shares in the company, valued at $270,105. This trade represents a 98.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stanley Tang sold 1,855 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 35,413 shares in the company, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,019,333 shares of company stock valued at $177,556,541. 7.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DASH. Piper Sandler increased their price target on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their target price on DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. UBS Group boosted their price target on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley increased their price objective on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company boosted their target price on shares of DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.97.

DoorDash Stock Up 0.1 %

Shares of NASDAQ:DASH opened at $183.32 on Friday. The firm has a fifty day simple moving average of $174.13 and a two-hundred day simple moving average of $148.46. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $184.26. The stock has a market capitalization of $76.15 billion, a P/E ratio of -407.38, a PEG ratio of 1.85 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping 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 company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business posted ($0.19) earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. On average, analysts expect that DoorDash, Inc. will post 0.29 earnings per share for the current year.

DoorDash Company 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.