Amalgamated Bank Purchases 49,032 Shares of DoorDash, Inc. (NASDAQ:DASH)

Amalgamated Bank increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 212.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 72,135 shares of the company's stock after acquiring an additional 49,032 shares during the quarter. Amalgamated Bank's holdings in DoorDash were worth $13,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares during the period. Jones Financial Companies Lllp boosted its stake in DoorDash by 36.2% in the 4th quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company's stock worth $323,000 after purchasing an additional 512 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in DoorDash by 66.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,242 shares of the company's stock worth $208,000 after purchasing an additional 495 shares during the period. Flagship Harbor Advisors LLC grew its holdings in DoorDash by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock valued at $299,000 after buying an additional 206 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of DoorDash by 43.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,026 shares of the company's stock valued at $1,682,000 after buying an additional 3,013 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on DASH shares. Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Thursday, June 12th. UBS Group lowered their price objective on DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Evercore ISI restated an "outperform" rating on shares of DoorDash in a research report on Monday, March 10th. Wells Fargo & Company decreased their target price on DoorDash from $201.00 to $198.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Finally, KeyCorp dropped their price target on DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.09.

DoorDash Trading Up 1.7%

NASDAQ DASH opened at $246.51 on Tuesday. The firm's fifty day simple moving average is $207.54 and its two-hundred day simple moving average is $192.03. The firm has a market capitalization of $104.46 billion, a P/E ratio of 320.15 and a beta of 1.67. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $247.69.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for 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%. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the transaction, the chief operating officer directly owned 942,554 shares of the company's stock, valued at $191,027,419.18. This trade represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stanley Tang sold 45,231 shares of DoorDash stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $211.36, for a total transaction of $9,560,024.16. Following the completion of the sale, the director owned 26,070 shares of the company's stock, valued at $5,510,155.20. This trade represents a 63.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,142 shares of company stock valued at $55,736,820. 5.83% of the stock is owned by company 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.

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