Korea Investment CORP Raises Position in DoorDash, Inc. (NASDAQ:DASH)

Korea Investment CORP lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 19.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,546 shares of the company’s stock after purchasing an additional 47,676 shares during the quarter. Korea Investment CORP owned about 0.07% of DoorDash worth $48,404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DASH. Pittenger & Anderson Inc. acquired a new stake in DoorDash in the fourth quarter worth about $29,000. Denver PWM LLC purchased a new position in shares of DoorDash in the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC acquired a new stake in DoorDash in the 4th quarter worth approximately $34,000. ORG Wealth Partners LLC purchased a new stake in DoorDash during the 4th quarter worth approximately $36,000. Finally, IFP Advisors Inc increased its stake in DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $194.02 on Friday. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The firm has a market capitalization of $81.51 billion, a PE ratio of 718.59 and a beta of 1.70. The business’s 50 day moving average price is $191.84 and its 200-day moving average price is $171.37.

Wall Street Analyst Weigh In

DASH has been the subject of several research reports. BMO Capital Markets reiterated an “outperform” rating and set a $240.00 price objective (up from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. KeyCorp boosted their price target on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Mizuho raised their price objective on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Benchmark upped their target price on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Citigroup reissued a “buy” rating on shares of DoorDash in a research report on Saturday, March 8th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.52.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total value of $18,454,356.20. Following the completion of the sale, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,525. This represents a 98.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keith Yandell sold 8,116 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $1,651,200.20. Following the transaction, the insider now owns 105,162 shares in the company, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 358,445 shares of company stock worth $63,443,370. Corporate insiders own 7.92% of the company’s stock.

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.