Zurcher Kantonalbank Zurich Cantonalbank Has $25.81 Million Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Zurcher Kantonalbank increased its stake in DoorDash by 74.4%, owning $25.81 million worth of the stock after purchasing over 60,000 additional shares.
• Multiple hedge funds, including Capital World Investors and Franklin Resources Inc., have significantly raised their holdings in DoorDash during the 4th quarter, reflecting growing institutional interest.
• Analysts have generally positive ratings for DoorDash, with a consensus price target of $235.56, suggesting a potential for growth in the stock's value.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 74.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,222 shares of the company's stock after purchasing an additional 60,225 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in DoorDash were worth $25,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares during the period. GAMMA Investing LLC lifted its position in shares of DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after buying an additional 794 shares during the period. Flagship Harbor Advisors LLC lifted its position in shares of DoorDash by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after buying an additional 206 shares during the period. Park Avenue Securities LLC lifted its position in shares of DoorDash by 9.3% during the 1st quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock worth $1,831,000 after buying an additional 850 shares during the period. Finally, Sowell Financial Services LLC bought a new position in shares of DoorDash during the 1st quarter worth approximately $222,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DASH. Cantor Fitzgerald reiterated an "overweight" rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Jefferies Financial Group reiterated a "hold" rating and issued a $250.00 price objective (up previously from $235.00) on shares of DoorDash in a research report on Tuesday, July 15th. Truist Financial lifted their price objective on DoorDash from $230.00 to $272.00 and gave the company a "buy" rating in a research report on Tuesday. Wedbush restated an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Finally, Benchmark boosted their target price on DoorDash from $225.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued 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 $235.56.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 4,042 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $250.28, for a total transaction of $1,011,631.76. Following the sale, the chief executive officer owned 520,450 shares of the company's stock, valued at $130,258,226. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shona L. Brown sold 825 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $250.00, for a total value of $206,250.00. Following the completion of the sale, the director directly owned 43,477 shares in the company, valued at approximately $10,869,250. This represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,127 shares of company stock valued at $115,087,539 over the last ninety days. 5.83% of the stock is owned by corporate insiders.

DoorDash Price Performance

NASDAQ:DASH traded down $3.47 during trading hours on Friday, reaching $246.79. 1,557,027 shares of the company were exchanged, compared to its average volume of 4,752,104. The company has a market capitalization of $104.57 billion, a P/E ratio of 320.94 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $106.21 and a 1-year high of $252.87. The business has a 50 day moving average of $229.80 and a 200 day moving average of $202.92.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. The business 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 firm's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) earnings per share. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

DoorDash Company 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.