Mitsubishi UFJ Trust & Banking Corp Sells 24,207 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in DoorDash, Inc. by 4.8%, now owning 483,929 shares valued at approximately $88.4 million.
• Insider trading activity includes significant sales by Director Stanley Tang and CEO Tony Xu, who sold shares worth over $20 million combined, leading to notable decreases in their ownership percentages.
• Wall Street analysts have shown increased optimism, with multiple brokerages raising their price targets for DoorDash, with the current average target set at $235.56.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,929 shares of the company's stock after selling 24,207 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.12% of DoorDash worth $88,448,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Blueshift Asset Management LLC acquired a new stake in DoorDash during the 1st quarter worth approximately $528,000. Hartford Investment Management Co. acquired a new stake in DoorDash during the 1st quarter worth approximately $3,785,000. Jefferies Financial Group Inc. raised its holdings in DoorDash by 162.6% during the 1st quarter. Jefferies Financial Group Inc. now owns 12,722 shares of the company's stock worth $2,325,000 after buying an additional 7,878 shares during the period. Harbour Investments Inc. grew its stake in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 70 shares in the last quarter. Finally, Private Advisory Group LLC grew its stake in shares of DoorDash by 58.2% during the 1st quarter. Private Advisory Group LLC now owns 8,781 shares of the company's stock worth $1,605,000 after acquiring an additional 3,229 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $220.71, for a total value of $9,765,093.24. Following the completion of the transaction, the chief executive officer owned 520,450 shares of the company's stock, valued at $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the transaction, the director owned 22,545 shares in the company, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,127 shares of company stock worth $115,087,539 in the last ninety days. 5.83% of the stock is owned by company insiders.

DoorDash Stock Up 3.9%

Shares of DASH traded up $9.67 during midday trading on Monday, reaching $258.02. 3,349,917 shares of the stock were exchanged, compared to its average volume of 2,846,482. DoorDash, Inc. has a twelve month low of $106.21 and a twelve month high of $258.73. The company has a market cap of $109.33 billion, a P/E ratio of 335.10 and a beta of 1.70. The stock's 50 day simple moving average is $230.64 and its 200 day simple moving average is $203.92.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. As a group, analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DASH. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $230.00 price target on shares of DoorDash in a research note on Wednesday, May 7th. Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Raymond James Financial raised their price target on shares of DoorDash from $260.00 to $275.00 and gave the stock a "strong-buy" rating in a research note on Monday, July 21st. Bank of America raised their price target on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Wedbush reaffirmed an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.56.

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.