SouthState Corp Boosts Holdings in DoorDash, Inc. (NASDAQ:DASH)

SouthState Corp raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 762.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 207 shares of the company’s stock after acquiring an additional 183 shares during the period. SouthState Corp’s holdings in DoorDash were worth $38,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC purchased a new stake in DoorDash in the 1st quarter valued at about $7,200,000. Blair William & Co. IL grew its holdings in shares of DoorDash by 12.8% during the 1st quarter. Blair William & Co. IL now owns 4,855 shares of the company’s stock worth $887,000 after purchasing an additional 551 shares during the period. Brighton Jones LLC grew its holdings in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the period. GAMMA Investing LLC grew its holdings in shares of DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company’s stock worth $351,000 after purchasing an additional 794 shares during the period. Finally, Flagship Harbor Advisors LLC grew its holdings in shares of DoorDash by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company’s stock worth $299,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DASH shares. Wells Fargo & Company boosted their target price on DoorDash from $239.00 to $280.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Wedbush reiterated a “neutral” rating on shares of DoorDash in a report on Friday, August 8th. BMO Capital Markets boosted 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. Oppenheimer boosted their target price on DoorDash from $280.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded DoorDash from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $263.88.

Insiders Place Their Bets

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares of the company’s stock, valued at $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 51,250 shares of DoorDash stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $255.89, for a total value of $13,114,362.50. Following the transaction, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $133,177,950.50. The trade was a 8.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 686,437 shares of company stock valued at $161,070,166 over the last three months. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

Shares of DASH opened at $254.20 on Thursday. The firm has a market capitalization of $107.72 billion, a price-to-earnings ratio of 141.22 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. The stock’s fifty day moving average is $238.66 and its 200-day moving average is $208.04.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company earned ($0.38) earnings per share. Equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

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.