OVERSEA CHINESE BANKING Corp Ltd Takes Position in DoorDash, Inc. $DASH

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,193 shares of the company’s stock, valued at approximately $723,000.

Several other institutional investors and hedge funds have also modified their holdings of DASH. Physician Wealth Advisors Inc. lifted its holdings in shares of DoorDash by 284.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after buying an additional 71 shares during the period. Eastern Bank grew its position in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Sunbelt Securities Inc. grew its position in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after buying an additional 67 shares during the period. Morse Asset Management Inc acquired a new stake in DoorDash during the third quarter valued at $36,000. Finally, Sound Income Strategies LLC grew its position in DoorDash by 2,760.0% during the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock valued at $39,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insiders Place Their Bets

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the sale, the director directly owned 31,002 shares in the company, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $188.34, for a total value of $1,883,400.00. Following the sale, the chief operating officer owned 843,678 shares of the company’s stock, valued at approximately $158,898,314.52. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 89,406 shares of company stock worth $16,639,624. Corporate insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

NASDAQ DASH opened at $182.27 on Thursday. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The stock has a 50-day moving average of $166.12 and a 200 day moving average of $203.90. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $79.18 billion, a price-to-earnings ratio of 85.98 and a beta of 1.93.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the firm posted $0.33 earnings per share. DoorDash’s quarterly revenue was up 37.7% on a year-over-year basis. Sell-side analysts anticipate that DoorDash, Inc. will post 2.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on DASH shares. Stifel Nicolaus dropped their price target on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Wells Fargo & Company reduced their price target on DoorDash from $221.00 to $198.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Cantor Fitzgerald reduced their price target on DoorDash from $285.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. The Goldman Sachs Group set a $267.00 price target on DoorDash in a report on Monday, February 2nd. Finally, Sanford C. Bernstein reduced their price target on DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $261.32.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.