Mirae Asset Global Investments Co. Ltd. Raises Position in DoorDash, Inc. (NASDAQ:DASH)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,872 shares of the company’s stock after purchasing an additional 6,196 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in DoorDash were worth $13,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in shares of DoorDash by 7.2% in the second quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock worth $1,278,000 after buying an additional 788 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of DoorDash in the second quarter worth approximately $779,000. GAMMA Investing LLC raised its holdings in shares of DoorDash by 19.3% in the third quarter. GAMMA Investing LLC now owns 941 shares of the company’s stock worth $134,000 after buying an additional 152 shares during the period. Miracle Mile Advisors LLC purchased a new stake in shares of DoorDash in the third quarter worth approximately $223,000. Finally, Fulton Bank N.A. raised its holdings in shares of DoorDash by 5.1% in the third quarter. Fulton Bank N.A. now owns 3,007 shares of the company’s stock worth $429,000 after buying an additional 147 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

NASDAQ DASH opened at $196.45 on Friday. The stock has a 50-day simple moving average of $176.55 and a two-hundred day simple moving average of $153.45. The firm has a market capitalization of $81.61 billion, a P/E ratio of -436.56, a PEG ratio of 1.97 and a beta of 1.72. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $196.98.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $265,515. The trade was a 98.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the transaction, the insider now owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,040,758 shares of company stock worth $181,434,201. Insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on DASH. Susquehanna raised their price objective on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. DA Davidson raised their price objective on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. BMO Capital Markets raised their price objective on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Piper Sandler raised their price objective on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup raised their price objective on DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $179.39.

About DoorDash

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.