DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,015 shares of the company's stock after selling 4,216 shares during the period. Cornercap Investment Counsel Inc.'s holdings in DoorDash were worth $1,465,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TimesSquare Capital Management LLC raised its stake in DoorDash by 0.6% in the first quarter. TimesSquare Capital Management LLC now owns 358,818 shares of the company's stock valued at $65,581,000 after buying an additional 2,250 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in DoorDash by 822.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 30,533 shares of the company's stock valued at $5,581,000 after buying an additional 27,222 shares in the last quarter. Apollon Wealth Management LLC raised its stake in DoorDash by 42.5% in the first quarter. Apollon Wealth Management LLC now owns 3,472 shares of the company's stock valued at $635,000 after buying an additional 1,035 shares in the last quarter. Signaturefd LLC raised its stake in DoorDash by 10.1% in the first quarter. Signaturefd LLC now owns 5,532 shares of the company's stock valued at $1,011,000 after buying an additional 506 shares in the last quarter. Finally, Securian Asset Management Inc. acquired a new stake in DoorDash in the first quarter valued at $3,284,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Trading Up 1.0%

DASH stock opened at $242.85 on Tuesday. The firm has a 50 day moving average of $216.76 and a 200-day moving average of $196.39. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74. The company has a market cap of $102.91 billion, a price-to-earnings ratio of 315.39 and a beta of 1.70.

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

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at $6,274,788.30. The trade was a 63.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 20,000 shares of DoorDash stock in a transaction that occurred 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 transaction, the chief financial officer owned 245,530 shares of the company's stock, valued at $60,645,910. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 429,031 shares of company stock worth $94,584,086. 5.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of analyst reports. Needham & Company LLC raised their price target on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $260.00 price target (up from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. BTIG Research raised their price target on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. KeyCorp raised their price objective on DoorDash from $235.00 to $295.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Oppenheimer raised their price objective on DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and an average price target of $223.44.

DoorDash 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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