Caitong International Asset Management Co. Ltd Has $363,000 Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its position in DoorDash, Inc. by 24,750.0%, resulting in holdings worth $363,000 at the end of the first quarter.
• Institutional investors control approximately 90.64% of DoorDash's stock, indicating strong institutional confidence in the company.
• Recent earnings reports show DoorDash exceeded expectations with $0.65 earnings per share and $3.28 billion in revenue, marking a 24.9% year-over-year revenue increase.

Caitong International Asset Management Co. Ltd increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 24,750.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,988 shares of the company's stock after buying an additional 1,980 shares during the period. Caitong International Asset Management Co. Ltd's holdings in DoorDash were worth $363,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DASH. Brighton Jones LLC increased its stake in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after buying an additional 1,807 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of DoorDash by 6.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 92,012 shares of the company's stock valued at $15,435,000 after purchasing an additional 5,617 shares in the last quarter. Townsquare Capital LLC raised its position in DoorDash by 12.6% in the 4th quarter. Townsquare Capital LLC now owns 6,349 shares of the company's stock valued at $1,065,000 after buying an additional 709 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of DoorDash by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,376 shares of the company's stock worth $2,076,000 after purchasing an additional 802 shares during the last quarter. Finally, Synovus Financial Corp acquired a new position in shares of DoorDash during the 4th quarter worth approximately $228,000. Institutional investors own 90.64% of the company's stock.

DoorDash Price Performance

Shares of DASH opened at $264.32 on Wednesday. DoorDash, Inc. has a twelve month low of $122.32 and a twelve month high of $278.15. The stock's 50 day moving average is $237.98 and its two-hundred day moving average is $207.72. The firm has a market capitalization of $112.00 billion, a PE ratio of 146.85 and a beta of 1.70. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted ($0.38) EPS. DoorDash's revenue was up 24.9% on a year-over-year basis. Research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity

In related news, CFO Ravi Inukonda sold 1,425 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $244.78, for a total value of $348,811.50. Following the completion of the transaction, the chief financial officer owned 244,905 shares of the company's stock, valued at approximately $59,947,845.90. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 635,187 shares of company stock valued at $147,955,804 in the last ninety days. 5.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DASH shares. Evercore ISI reiterated 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. Piper Sandler raised their price objective on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $260.00 target price (up previously from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. JMP Securities lifted their price target on DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Finally, UBS Group boosted their price objective on DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Twelve research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $263.88.

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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