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

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

Other large investors have also added to or reduced their stakes in the company. Greenland Capital Management LP raised its stake in DoorDash by 637.5% in the second quarter. Greenland Capital Management LP now owns 23,572 shares of the company’s stock valued at $5,811,000 after buying an additional 20,376 shares during the period. Geode Capital Management LLC increased its holdings in shares of DoorDash by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after acquiring an additional 223,188 shares during the last quarter. Caprock Group LLC acquired a new position in shares of DoorDash during the 3rd quarter worth approximately $3,169,000. Williamson Legacy Group LLC bought a new stake in DoorDash in the 2nd quarter valued at $1,264,000. Finally, Brighton Jones LLC lifted its holdings in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus reduced their price objective on shares of DoorDash from $253.00 to $224.00 and set a “hold” rating for the company in a research report on Tuesday, January 27th. The Goldman Sachs Group set a $267.00 target price on shares of DoorDash in a report on Monday, February 2nd. Wedbush upped their price target on shares of DoorDash from $260.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, December 19th. BMO Capital Markets reissued an “outperform” rating on shares of DoorDash in a report on Friday, December 12th. Finally, Truist Financial raised their price objective on shares of DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $280.24.

Insider Activity at DoorDash

In related news, Director Alfred Lin purchased 389,047 shares of DoorDash stock in a transaction that occurred on Tuesday, November 25th. The shares were acquired at an average price of $193.81 per share, with a total value of $75,401,199.07. Following the completion of the transaction, the director directly owned 389,047 shares of the company’s stock, valued at $75,401,199.07. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $222.52, for a total value of $6,675,600.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 604,135 shares of company stock valued at $124,509,080. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

Shares of DoorDash stock opened at $160.34 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $69.11 billion, a price-to-earnings 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 50-day simple moving average of $211.95 and a two-hundred day simple moving average of $233.25.

DoorDash 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.