Mirae Asset Global Investments Co. Ltd. Acquires 16,184 Shares of DoorDash, Inc. $DASH

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 177,897 shares of the company’s stock after purchasing an additional 16,184 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in DoorDash were worth $43,853,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Saudi Central Bank acquired a new position in shares of DoorDash in the 1st quarter worth approximately $25,000. WPG Advisers LLC bought a new position in DoorDash in the 1st quarter valued at $26,000. Pacific Center for Financial Services bought a new position in DoorDash in the 1st quarter valued at $27,000. Harbour Investments Inc. boosted its position in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after buying an additional 70 shares during the last quarter. Finally, SouthState Corp boosted its position in shares of DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock worth $38,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $270.09 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $115.38 billion, a P/E ratio of 150.05 and a beta of 1.71. The firm’s fifty day moving average is $255.09 and its two-hundred day moving average is $223.32. DoorDash, Inc. has a 52-week low of $140.62 and a 52-week high of $278.15.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted ($0.38) EPS. The business’s revenue was up 24.9% on a year-over-year basis. As a group, analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DASH has been the topic of several recent analyst reports. BMO Capital Markets lifted their target price on DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Needham & Company LLC set a $300.00 target price on DoorDash and gave the company a “buy” rating in a research report on Thursday, August 7th. Morgan Stanley lifted their target price on DoorDash from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Stifel Nicolaus lifted their price target on DoorDash from $214.00 to $239.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Finally, Wall Street Zen cut DoorDash from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $275.42.

Insider Activity

In related news, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares of the company’s stock, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares of the company’s stock, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 891,841 shares of company stock valued at $220,178,742 in the last quarter. 5.83% of the stock is currently owned by company insiders.

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.