Korea Investment CORP Sells 14,706 Shares of DoorDash, Inc. $DASH

Korea Investment CORP cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276,970 shares of the company’s stock after selling 14,706 shares during the quarter. Korea Investment CORP owned about 0.07% of DoorDash worth $68,276,000 as of its most recent SEC filing.

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

DoorDash Stock Up 0.3%

Shares of NASDAQ:DASH opened at $195.98 on Friday. The company’s fifty day moving average is $243.07 and its 200-day moving average is $238.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The company has a market capitalization of $84.47 billion, a PE ratio of 99.48 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. 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 news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $244.39, for a total value of $11,097,749.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $244.39, for a total value of $7,331,700.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 756,834 shares of company stock valued at $174,539,246. Insiders own 5.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DASH. The Goldman Sachs Group decreased their target price on DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. DA Davidson reiterated a “neutral” rating and issued a $260.00 price objective on shares of DoorDash in a research report on Thursday, November 6th. Susquehanna decreased their price objective on DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a report on Friday, November 7th. Truist Financial boosted their price objective on DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, BTIG Research restated a “buy” rating and issued a $315.00 target price on shares of DoorDash in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.62.

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.