OVERSEA CHINESE BANKING Corp Ltd Has $5.58 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 822.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,533 shares of the company's stock after buying an additional 27,222 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in DoorDash were worth $5,581,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DASH. Apollon Wealth Management LLC increased its holdings in DoorDash by 42.5% during the 1st quarter. Apollon Wealth Management LLC now owns 3,472 shares of the company's stock valued at $635,000 after purchasing an additional 1,035 shares in the last quarter. Signaturefd LLC increased its holdings in DoorDash by 10.1% during the 1st quarter. Signaturefd LLC now owns 5,532 shares of the company's stock valued at $1,011,000 after purchasing an additional 506 shares in the last quarter. Securian Asset Management Inc. acquired a new stake in DoorDash during the 1st quarter valued at $3,284,000. CWM LLC increased its holdings in DoorDash by 190.6% during the 1st quarter. CWM LLC now owns 40,435 shares of the company's stock valued at $7,390,000 after purchasing an additional 26,520 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in DoorDash by 65.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 47,000 shares of the company's stock valued at $8,590,000 after purchasing an additional 18,600 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the transaction, the director owned 22,545 shares of the company's stock, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 44,244 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $220.71, for a total value of $9,765,093.24. Following the completion of the transaction, the chief executive officer directly owned 520,450 shares in the company, valued at $114,868,519.50. The trade was a 7.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 429,031 shares of company stock valued at $94,584,086. 5.83% of the stock is owned by insiders.

DoorDash Price Performance

NASDAQ DASH traded down $2.27 during trading on Wednesday, reaching $234.50. 2,613,136 shares of the company's stock were exchanged, compared to its average volume of 4,223,315. The business has a 50 day moving average price of $219.58 and a 200-day moving average price of $197.44. The stock has a market capitalization of $99.37 billion, a P/E ratio of 304.55 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $248.74.

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, topping analysts' consensus estimates of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business's revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. On average, analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Raymond James Financial raised DoorDash from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $215.00 to $260.00 in a research note on Monday, June 23rd. Roth Capital lifted their target price on DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research note on Monday. DA Davidson lifted their target price on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Stifel Nicolaus set a $198.00 target price on DoorDash and gave the company a "hold" rating in a research note on Tuesday, June 10th. Finally, FBN Securities assumed coverage on DoorDash in a research report on Friday, March 28th. They issued an "outperform" rating and a $230.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $225.94.

About DoorDash

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.