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

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 67.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,133 shares of the company’s stock after selling 2,350 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in DoorDash were worth $279,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GFG Capital LLC purchased a new stake in DoorDash during the 2nd quarter valued at approximately $30,000. Saudi Central Bank acquired a new position in shares of DoorDash in the first quarter valued at approximately $25,000. WPG Advisers LLC acquired a new position in shares of DoorDash in the first quarter valued at approximately $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash during the first quarter worth approximately $27,000. Finally, Harbour Investments Inc. lifted its holdings in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Down 0.7%

DASH opened at $261.42 on Wednesday. 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 $111.68 billion, a price-to-earnings ratio of 145.23 and a beta of 1.71. DoorDash, Inc. has a one year low of $152.26 and a one year high of $285.50. The business’s fifty day moving average is $260.22 and its two-hundred day moving average is $234.44.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the company posted ($0.38) EPS. The business’s revenue was up 24.9% on a year-over-year basis. Analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $263.86, for a total value of $376,000.50. Following the sale, the chief financial officer directly owned 214,147 shares in the company, valued at $56,504,827.42. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 34,166 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total value of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $139,605,508. The trade was a 6.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 928,114 shares of company stock valued at $232,553,670. 5.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DASH shares. UBS Group boosted their price objective on shares of DoorDash from $280.00 to $316.00 and gave the company a “neutral” rating in a research note on Tuesday. Wall Street Zen upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. The Goldman Sachs Group started coverage on shares of DoorDash in a research report on Monday. They issued a “buy” rating and a $315.00 price objective for the company. JPMorgan Chase & Co. raised DoorDash from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $325.00 in a report on Tuesday, October 14th. Finally, Zacks Research raised DoorDash from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.