Kornitzer Capital Management Inc. KS Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Kornitzer Capital Management Inc. KS bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,425 shares of the company's stock, valued at approximately $809,000.

Several other hedge funds also recently modified their holdings of DASH. ORG Partners LLC boosted its position in shares of DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after buying an additional 202 shares during the last quarter. Rothschild Investment LLC boosted its position in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after buying an additional 247 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its position in shares of DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after buying an additional 180 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of DoorDash during the first quarter valued at approximately $56,000. Finally, Cromwell Holdings LLC purchased a new position in shares of DoorDash during the first quarter valued at approximately $58,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $220.71, for a total value of $9,765,093.24. Following the completion of the sale, the chief executive officer owned 520,450 shares of the company's stock, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 62,267 shares of the business's stock in a transaction dated 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 sale, the chief operating officer directly owned 942,554 shares of the company's stock, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 463,198 shares of company stock valued at $102,674,831 in the last ninety days. Corporate insiders own 5.83% of the company's stock.

DoorDash Trading Up 1.8%

Shares of NASDAQ DASH traded up $4.15 during mid-day trading on Friday, hitting $239.17. The company had a trading volume of 3,407,357 shares, compared to its average volume of 4,215,665. The company has a market capitalization of $101.35 billion, a price-to-earnings ratio of 310.61 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $248.74. The stock's 50-day moving average price is $220.61 and its 200-day moving average price is $197.89.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results 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. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DASH. BTIG Research lifted their price target on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Benchmark lifted their price target on DoorDash from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday. Jefferies Financial Group reiterated a "hold" rating and set a $250.00 price target (up from $235.00) on shares of DoorDash in a report on Tuesday. Oppenheimer lifted their price target on DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. Finally, Stifel Nicolaus set a $198.00 price target on DoorDash and gave the stock a "hold" rating in a report on Tuesday, June 10th. Eleven investment 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. Based on data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $226.97.

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.