Cornercap Investment Counsel Inc. Decreases Holdings in DoorDash, Inc. (NASDAQ:DASH)

Cornercap Investment Counsel Inc. decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 32.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,589 shares of the company’s stock after selling 6,092 shares during the period. DoorDash accounts for about 0.5% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 24th biggest position. Cornercap Investment Counsel Inc.’s holdings in DoorDash were worth $1,797,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DASH. Envestnet Portfolio Solutions Inc. increased its stake in shares of DoorDash by 98.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,732 shares of the company’s stock worth $789,000 after purchasing an additional 2,848 shares in the last quarter. Empowered Funds LLC lifted its position in DoorDash by 31.6% during the first quarter. Empowered Funds LLC now owns 5,732 shares of the company’s stock valued at $789,000 after purchasing an additional 1,375 shares during the last quarter. US Bancorp DE lifted its position in DoorDash by 15.6% during the first quarter. US Bancorp DE now owns 7,948 shares of the company’s stock valued at $1,095,000 after purchasing an additional 1,074 shares during the last quarter. Bleakley Financial Group LLC lifted its position in DoorDash by 8.7% during the first quarter. Bleakley Financial Group LLC now owns 5,245 shares of the company’s stock valued at $722,000 after purchasing an additional 418 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in DoorDash by 1,568.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 41,169 shares of the company’s stock valued at $5,670,000 after purchasing an additional 38,702 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. DA Davidson lifted their target price on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. KeyCorp lifted their target price on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Redburn Atlantic began coverage on shares of DoorDash in a report on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Stock Down 1.1 %

NASDAQ:DASH opened at $173.80 on Friday. The firm’s 50-day moving average price is $148.09 and its 200-day moving average price is $126.74. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) EPS. As a group, sell-side analysts predict that DoorDash, Inc. will post 0.24 EPS for the current fiscal 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.