Victory Capital Management Inc. Increases Position in DoorDash, Inc. (NASDAQ:DASH)

Victory Capital Management Inc. raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 303,288 shares of the company's stock after acquiring an additional 37,383 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of DoorDash worth $55,432,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In other news, Director Andy Fang sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the sale, the director directly owned 22,545 shares of the company's stock, valued at approximately $4,903,988.40. The trade was a 57.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares in the company, valued at $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 463,198 shares of company stock valued at $102,674,831. Company insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DASH shares. Bank of America raised their target price on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Loop Capital reissued a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Roth Capital raised their target price on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Morgan Stanley reduced their target price on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Thursday, June 12th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $226.97.

DoorDash Stock Up 1.8%

NASDAQ:DASH traded up $4.15 on Friday, hitting $239.17. The stock had a trading volume of 3,407,442 shares, compared to its average volume of 4,201,299. The stock has a market cap of $101.35 billion, a price-to-earnings ratio of 310.61 and a beta of 1.70. The company has a fifty day moving average price of $221.73 and a two-hundred day moving average price of $198.59. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $248.74.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its 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. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. DoorDash's revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. As a group, 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.