Asset Management One Co. Ltd. Purchases 4,510 Shares of DoorDash, Inc. $DASH

Key Points

• Asset Management One Co. Ltd. increased its holdings in DoorDash, Inc. by 3.1%, acquiring an additional 4,510 shares, bringing its total to 150,650 shares valued at approximately $37.1 million.
• Several institutional investors, including ARK Investment Management LLC and Ethic Inc., also increased their positions in DoorDash during the second quarter, reflecting broader interest in the company's stock.
• Analysts have raised their price targets for DoorDash, with a consensus target of approximately $287.79, indicating strong growth expectations for the company.

Asset Management One Co. Ltd. lifted its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,650 shares of the company's stock after buying an additional 4,510 shares during the period. Asset Management One Co. Ltd.'s holdings in DoorDash were worth $37,137,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. R Squared Ltd bought a new stake in shares of DoorDash in the 2nd quarter valued at $217,000. Forum Financial Management LP increased its position in shares of DoorDash by 6.9% in the 2nd quarter. Forum Financial Management LP now owns 2,441 shares of the company's stock valued at $602,000 after buying an additional 158 shares in the last quarter. Ethic Inc. increased its position in shares of DoorDash by 24.0% in the 2nd quarter. Ethic Inc. now owns 49,862 shares of the company's stock valued at $12,082,000 after buying an additional 9,637 shares in the last quarter. ARK Investment Management LLC bought a new stake in shares of DoorDash in the 2nd quarter valued at $44,007,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of DoorDash in the 2nd quarter valued at $254,000. Institutional investors own 90.64% of the company's stock.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the transaction, the director owned 26,070 shares in the company, valued at $6,442,157.70. This trade represents a 63.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the transaction, the director owned 22,545 shares of the company's stock, valued at $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 932,156 shares of company stock worth $233,565,302 over the last 90 days. 5.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on DASH shares. Evercore ISI restated an "outperform" rating and issued a $360.00 price objective (up previously from $240.00) on shares of DoorDash in a research report on Friday, August 8th. JMP Securities increased their target price on DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Jefferies Financial Group increased their target price on DoorDash from $265.00 to $280.00 and gave the stock a "hold" rating in a report on Friday, October 17th. Morgan Stanley increased their target price on DoorDash from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Citigroup reiterated an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $287.79.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $258.15 on Friday. The stock has a market capitalization of $110.28 billion, a price-to-earnings ratio of 143.42 and a beta of 1.71. The business has a 50-day moving average of $259.75 and a 200-day moving average of $232.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a fifty-two week low of $152.26 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) EPS. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.