E Fund Management Hong Kong Co. Ltd. Has $194,000 Stake in DoorDash, Inc. $DASH

E Fund Management Hong Kong Co. Ltd. raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 509.3% in the second quarter, Holdings Channel reports. The fund owned 786 shares of the company’s stock after acquiring an additional 657 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in DoorDash were worth $194,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Night Squared LP bought a new stake in DoorDash during the first quarter worth about $2,780,000. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash in the first quarter valued at approximately $7,200,000. Public Investment Fund grew its position in shares of DoorDash by 68.3% in the first quarter. Public Investment Fund now owns 821,389 shares of the company’s stock valued at $150,125,000 after purchasing an additional 333,369 shares during the last quarter. Ardmore Road Asset Management LP grew its position in DoorDash by 6.7% during the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after buying an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP acquired a new stake in DoorDash during the first quarter worth approximately $29,261,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Price Performance

DoorDash stock opened at $281.05 on Thursday. DoorDash, Inc. has a 52 week low of $141.76 and a 52 week high of $285.08. The company’s 50 day moving average price is $257.55 and its two-hundred day moving average price is $225.75. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock has a market cap of $120.06 billion, a P/E ratio of 156.14 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the firm earned ($0.38) EPS. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research analyst reports. Loop Capital reaffirmed a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. Evercore ISI reaffirmed an “outperform” rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a research report on Thursday, August 7th. Mizuho set a $350.00 price target on DoorDash and gave the stock an “outperform” rating in a report on Monday, September 29th. Finally, KeyCorp reiterated an “overweight” rating and set a $325.00 price target (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $275.27.

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the sale, the director owned 26,070 shares of the company’s stock, valued at approximately $6,442,157.70. The trade was a 63.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the sale, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. This trade represents a 55.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,001,054 shares of company stock worth $249,511,188 in the last quarter. 5.83% of the stock is owned by corporate insiders.

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.