Korea Investment CORP Raises Position in DoorDash, Inc. $DASH

Key Points

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Korea Investment CORP raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,676 shares of the company's stock after purchasing an additional 3,130 shares during the period. Korea Investment CORP owned 0.07% of DoorDash worth $53,310,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DASH. Brighton Jones LLC increased its position in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of DoorDash by 9.3% during the fourth quarter. NewEdge Advisors LLC now owns 6,068 shares of the company's stock worth $1,018,000 after purchasing an additional 514 shares in the last quarter. GeoWealth Management LLC increased its position in shares of DoorDash by 3.7% during the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock worth $240,000 after purchasing an additional 51 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at $497,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in shares of DoorDash by 143.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 32,942 shares of the company's stock valued at $5,526,000 after acquiring an additional 19,410 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer upped their target price on DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley upped their price target on shares of DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 price target (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Finally, Wedbush reaffirmed a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $263.88.

Insider Activity

In related news, Director Shona L. Brown sold 1,650 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $272.00, for a total value of $448,800.00. Following the transaction, the director directly owned 41,827 shares of the company's stock, valued at approximately $11,376,944. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at $6,442,157.70. This represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 905,179 shares of company stock valued at $217,357,737. Insiders own 5.83% of the company's stock.

DoorDash Price Performance

Shares of DASH stock traded up $2.14 during mid-day trading on Friday, hitting $247.32. 2,811,511 shares of the stock were exchanged, compared to its average volume of 3,882,916. The firm has a fifty day moving average of $242.93 and a 200 day moving average of $210.92. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15. The company has a market cap of $105.65 billion, a PE ratio of 137.40 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the company posted ($0.38) EPS. The company's revenue for the quarter 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.

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.