Oak Thistle LLC Invests $569,000 in DoorDash, Inc. (NASDAQ:DASH)

Oak Thistle LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,112 shares of the company's stock, valued at approximately $569,000.

Other large investors have also modified their holdings of the company. Capital World Investors lifted its stake in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after acquiring an additional 2,538,160 shares during the period. Franklin Resources Inc. grew its stake in DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after purchasing an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock worth $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of DoorDash by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after buying an additional 86,667 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of DoorDash in the 4th quarter worth approximately $597,443,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DASH. Needham & Company LLC upped their target price on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Bank of America boosted their price objective on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Benchmark raised their target price on DoorDash from $225.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. reduced their price objective on DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer raised their price target on shares of DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, DoorDash has an average rating of "Moderate Buy" and an average target price of $232.12.

DoorDash Price Performance

Shares of NASDAQ:DASH traded up $6.23 during midday trading on Friday, reaching $249.92. The company had a trading volume of 3,051,438 shares, compared to its average volume of 3,405,321. The stock has a market capitalization of $105.90 billion, a P/E ratio of 324.58 and a beta of 1.70. The stock's fifty day moving average price is $226.30 and its 200-day moving average price is $201.03. DoorDash, Inc. has a one year low of $102.81 and a one year high of $250.23.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 34,167 shares of DoorDash stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $236.80, for a total transaction of $8,090,745.60. Following the sale, the chief executive officer owned 520,450 shares of the company's stock, valued at $123,242,560. The trade was a 6.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 20,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $247.00, for a total value of $4,940,000.00. Following the completion of the transaction, the chief financial officer directly owned 245,530 shares of the company's stock, valued at approximately $60,645,910. The trade was a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 441,773 shares of company stock valued at $98,711,043 over the last quarter. Corporate insiders own 5.83% of the company's stock.

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.