DoorDash, Inc. $DASH Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in DoorDash, Inc. (NASDAQ:DASH) by 67.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,133 shares of the company’s stock after selling 2,350 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in DoorDash were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after buying an additional 8,073,882 shares during the period. AQR Capital Management LLC raised its stake in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after acquiring an additional 1,497,636 shares during the period. Invesco Ltd. raised its stake in shares of DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the period. Nuveen LLC acquired a new position in shares of DoorDash in the 1st quarter worth approximately $211,415,000. Finally, Deutsche Bank AG boosted its position in shares of DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock worth $367,313,000 after purchasing an additional 1,058,731 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Down 0.7%

Shares of NASDAQ:DASH opened at $261.42 on Wednesday. DoorDash, Inc. has a fifty-two week low of $152.26 and a fifty-two week high of $285.50. The firm’s 50 day moving average price is $260.22 and its 200 day moving average price is $234.44. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock has a market cap of $111.68 billion, a price-to-earnings ratio of 145.23 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm posted ($0.38) EPS. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares of the company’s stock, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total value of $11,048,707.10. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 928,114 shares of company stock worth $232,553,670. Corporate insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on DASH. UBS Group upped their price target on DoorDash from $280.00 to $316.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank Of Canada boosted their price objective on DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Benchmark increased their target price on DoorDash from $260.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $325.00 target price (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Finally, Susquehanna boosted their price target on shares of DoorDash from $235.00 to $300.00 and gave the stock a “positive” rating in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $291.88.

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.