DoorDash, Inc. $DASH Shares Purchased by Daiwa Securities Group Inc.

Key Points

• Daiwa Securities Group Inc. increased its DoorDash stake by 7.5% in the fourth quarter, ending with 105,961 shares valued at about $24.0 million.
• Several other institutional investors also added to their positions, and hedge funds and other institutions now own 90.64% of DoorDash shares.
• Analysts remain generally positive despite some mixed target cuts, with DoorDash holding a Moderate Buy consensus and a $259.58 average price target.

Daiwa Securities Group Inc. raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,961 shares of the company's stock after buying an additional 7,412 shares during the quarter. Daiwa Securities Group Inc.'s holdings in DoorDash were worth $23,998,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DASH. Keel Point LLC boosted its holdings in shares of DoorDash by 4.3% during the third quarter. Keel Point LLC now owns 1,393 shares of the company's stock worth $379,000 after purchasing an additional 58 shares during the last quarter. Petra Financial Advisors Inc. grew its position in shares of DoorDash by 2.2% in the third quarter. Petra Financial Advisors Inc. now owns 2,764 shares of the company's stock valued at $752,000 after purchasing an additional 59 shares during the period. CYBER HORNET ETFs LLC grew its position in shares of DoorDash by 6.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company's stock valued at $222,000 after purchasing an additional 60 shares during the period. Mission Wealth Management LP grew its position in shares of DoorDash by 5.2% in the third quarter. Mission Wealth Management LP now owns 1,241 shares of the company's stock valued at $338,000 after purchasing an additional 61 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its position in shares of DoorDash by 8.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 843 shares of the company's stock valued at $229,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Oppenheimer lowered their price objective on DoorDash from $280.00 to $235.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 price objective on DoorDash in a research report on Tuesday, May 12th. Moffett Nathanson set a $276.00 price objective on DoorDash in a research report on Wednesday, April 15th. Finally, Piper Sandler lowered their price objective on DoorDash from $220.00 to $205.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and a consensus target price of $259.58.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer owned 959,076 shares in the company, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of DoorDash stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the transaction, the insider owned 81,106 shares in the company, valued at $12,599,006.04. The trade was a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 69,808 shares of company stock valued at $11,135,403 in the last ninety days. Company insiders own 5.83% of the company's stock.

DoorDash Price Performance

Shares of DoorDash stock opened at $156.80 on Friday. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The stock has a market capitalization of $68.32 billion, a P/E ratio of 74.67 and a beta of 1.83. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The business's fifty day moving average price is $162.40 and its 200 day moving average price is $185.84.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The firm's revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, research analysts anticipate that DoorDash, Inc. will post 2.45 earnings per share for the current year.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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