Victory Capital Management Inc. Acquires 6,459 Shares of DoorDash, Inc. (NASDAQ:DASH)

Victory Capital Management Inc. lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 2.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 263,873 shares of the company’s stock after buying an additional 6,459 shares during the period. Victory Capital Management Inc.’s holdings in DoorDash were worth $28,704,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in DASH. Truist Financial Corp purchased a new stake in DoorDash during the fourth quarter valued at approximately $405,000. Private Advisor Group LLC purchased a new stake in DoorDash during the 4th quarter valued at $219,000. Principal Securities Inc. bought a new stake in DoorDash in the fourth quarter worth $96,000. Dimensional Fund Advisors LP boosted its stake in DoorDash by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,036,374 shares of the company’s stock worth $102,497,000 after buying an additional 23,159 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in DoorDash during the fourth quarter valued at $285,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DASH. Piper Sandler reaffirmed a “neutral” rating and set a $125.00 price target (up from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Wells Fargo & Company upped their target price on DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. JMP Securities raised their price target on DoorDash from $140.00 to $145.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price objective on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Benchmark reiterated a “buy” rating and issued a $150.00 target price on shares of DoorDash in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.57.

Insider Activity

In related news, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the transaction, the director now owns 70,191 shares in the company, valued at approximately $7,789,095.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Shona L. Brown sold 1,712 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total value of $189,980.64. Following the transaction, the director now directly owns 70,191 shares of the company’s stock, valued at $7,789,095.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. Insiders have sold 254,769 shares of company stock valued at $28,250,113 over the last ninety days. 7.92% of the stock is currently owned by insiders.

DoorDash Trading Up 1.0 %

NASDAQ DASH opened at $125.81 on Wednesday. The firm’s fifty day simple moving average is $117.35 and its two-hundred day simple moving average is $121.10. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $143.34. The firm has a market capitalization of $51.45 billion, a P/E ratio of -116.49, a P/E/G ratio of 737.67 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the business earned ($0.44) earnings per share. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis.

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.