Meiji Yasuda Life Insurance Co Takes $360,000 Position in DoorDash, Inc. $DASH

Key Points

• Meiji Yasuda Life Insurance Co has acquired a new stake in DoorDash, acquiring 1,967 shares worth approximately $360,000 as reported in their latest SEC filing.
• Several institutional investors, including Saudi Central Bank and SouthState Corp, also established new positions in DoorDash, with institutional investors now owning 90.64% of the company’s stock.
• DoorDash's stock has reached a current value of $250.60, following a quarterly earnings report that exceeded expectations with a revenue of $3.28 billion, leading to a significant increase in target prices from various analysts.

Meiji Yasuda Life Insurance Co bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,967 shares of the company's stock, valued at approximately $360,000.

Several other institutional investors have also added to or reduced their stakes in DASH. Saudi Central Bank acquired a new position in DoorDash in the 1st quarter valued at $25,000. WPG Advisers LLC bought a new stake in shares of DoorDash in the first quarter valued at about $26,000. Pacific Center for Financial Services acquired a new position in shares of DoorDash in the first quarter valued at about $27,000. Harbour Investments Inc. grew its stake in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 70 shares in the last quarter. Finally, SouthState Corp grew its position in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after purchasing an additional 183 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DASH shares. DA Davidson lifted their price target on shares of DoorDash from $190.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday. Cantor Fitzgerald restated an "overweight" rating and set a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Raymond James Financial reissued a "strong-buy" rating and set a $325.00 target price (up from $275.00) on shares of DoorDash in a report on Thursday, August 7th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $266.71.

DoorDash Trading Down 0.8%

Shares of DoorDash stock traded down $2.21 during trading on Friday, hitting $257.98. The company's stock had a trading volume of 2,215,886 shares, compared to its average volume of 4,561,936. The stock has a market cap of $110.21 billion, a price-to-earnings ratio of 143.32 and a beta of 1.70. DoorDash, Inc. has a 52 week low of $126.90 and a 52 week high of $278.15. The stock has a 50-day moving average price of $247.83 and a two-hundred day moving average price of $215.48. 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 (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned ($0.38) EPS. The business's quarterly revenue was up 24.9% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the sale, the director directly owned 26,070 shares in the company, valued at $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,019,042 shares of company stock valued at $248,122,219 in the last ninety days. Insiders own 5.83% of the company's stock.

DoorDash 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.