DoorDash, Inc. $DASH Stock Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its DoorDash stake by 395.6% in the third quarter, bringing its holdings to 275,057 shares valued at approximately $50.5 million. Institutional investors and hedge funds collectively own 90.64% of DASH.
• Analysts maintain a generally positive view, with DoorDash receiving a “Moderate Buy” consensus rating and an average price target of $254.95. Recent targets range from $220 to $295.
• DoorDash reported quarterly revenue of $4.45 billion, up 35.6% year over year and above estimates, though EPS of $0.46 slightly missed expectations. The stock opened at $193.53, while insiders have sold roughly $85.9 million of shares over the past 90 days.

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 395.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,057 shares of the company's stock after purchasing an additional 219,553 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.06% of DoorDash worth $50,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DASH. Abel Hall LLC bought a new stake in DoorDash during the third quarter worth approximately $1,049,000. Clark Wealth Partners increased its holdings in shares of DoorDash by 833.3% in the third quarter. Clark Wealth Partners now owns 196 shares of the company's stock valued at $36,000 after buying an additional 175 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of DoorDash by 43.8% in the third quarter. IFP Advisors Inc now owns 38,548 shares of the company's stock valued at $7,075,000 after buying an additional 11,743 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of DoorDash by 777.7% in the third quarter. Frank Rimerman Advisors LLC now owns 31,027 shares of the company's stock valued at $5,695,000 after buying an additional 27,492 shares in the last quarter. Finally, Alpine Bank Wealth Management lifted its position in shares of DoorDash by 843.0% during the 3rd quarter. Alpine Bank Wealth Management now owns 1,207 shares of the company's stock valued at $222,000 after acquiring an additional 1,079 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DASH shares. Wedbush raised their price objective on DoorDash from $205.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, August 20th. UBS Group reaffirmed a "buy" rating and set a $295.00 target price on shares of DoorDash in a research report on Tuesday, September 8th. TD Cowen boosted their target price on DoorDash from $225.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. KeyCorp reduced their target price on DoorDash from $280.00 to $275.00 and set an "overweight" rating for the company in a report on Tuesday, July 14th. Finally, Roth Capital increased their price target on DoorDash from $200.00 to $220.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $254.95.

DoorDash Stock Up 2.3%

DASH stock opened at $193.53 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $83.86 billion, a P/E ratio of 101.32 and a beta of 1.90. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $269.00. The company's 50 day simple moving average is $204.51 and its 200-day simple moving average is $184.49.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the business posted $0.65 EPS. The company's revenue for the quarter was up 35.6% on a year-over-year basis. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.51 EPS for the current year.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $183.69, for a total transaction of $918,450.00. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 8,738 shares of DoorDash stock in a transaction on Monday, September 28th. The shares were sold at an average price of $180.85, for a total value of $1,580,267.30. Following the transaction, the chief operating officer owned 921,473 shares in the company, valued at $166,648,392.05. This represents a 0.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 393,998 shares of company stock worth $85,861,330. Insiders own 44.90% of the company's stock.

DoorDash Profile

DoorDash, Inc NASDAQ: DASH operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.

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