Nissay Asset Management Corp Japan ADV Has $16.60 Million Stock Holdings in DoorDash, Inc. $DASH

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in DoorDash by 18.7%, currently holding 90,842 shares valued at approximately $16.6 million.
• Several institutional investors have also increased their positions, with 90.64% of DoorDash's stock now owned by institutional investors and hedge funds.
• Analysts have raised their price targets for DoorDash, with a consensus price target of $264.65, indicating a positive outlook for the stock.

Nissay Asset Management Corp Japan ADV increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 18.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,842 shares of the company's stock after purchasing an additional 14,284 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in DoorDash were worth $16,603,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of DoorDash by 152.5% in the first quarter. NewEdge Advisors LLC now owns 15,320 shares of the company's stock valued at $2,800,000 after buying an additional 9,252 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in DoorDash by 17.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 360,292 shares of the company's stock worth $65,851,000 after purchasing an additional 54,090 shares during the period. Integrated Wealth Concepts LLC boosted its position in DoorDash by 21.5% during the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company's stock worth $314,000 after purchasing an additional 303 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of DoorDash by 113.1% during the 1st quarter. Alliancebernstein L.P. now owns 533,245 shares of the company's stock worth $97,461,000 after buying an additional 282,978 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after buying an additional 1,497,636 shares during the period. 90.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated 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 completion of the transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,019,042 shares of company stock valued at $248,122,219. Insiders own 5.83% of the company's stock.

DoorDash Price Performance

DoorDash stock traded up $2.68 during midday trading on Thursday, reaching $260.11. The company's stock had a trading volume of 884,767 shares, compared to its average volume of 4,566,632. The business has a 50-day moving average price of $247.40 and a 200-day moving average price of $215.03. DoorDash, Inc. has a 52 week low of $126.90 and a 52 week high of $278.15. The stock has a market cap of $111.12 billion, a PE ratio of 144.22 and a beta of 1.70. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $3.16 billion. During the same quarter in the previous year, the company posted ($0.38) EPS. The business's revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on DASH shares. Morgan Stanley lifted their target price on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Oppenheimer lifted their target price on shares of DoorDash from $280.00 to $310.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their target price on shares of DoorDash from $280.00 to $306.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Evercore ISI reaffirmed an "outperform" rating and set a $360.00 target price (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. Finally, UBS Group raised their price target on shares of DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $266.71.

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.