Nomura Asset Management Co. Ltd. Buys 13,121 Shares of DoorDash, Inc. $DASH

Key Points

• Nomura Asset Management increased its DoorDash stake by 9.1% in the fourth quarter, buying 13,121 additional shares and bringing its total position to 156,960 shares worth about $35.5 million.
• DoorDash reported better-than-expected EPS of $0.42 for the quarter, though revenue of $4.04 billion came in slightly below analyst estimates. Revenue still rose 33.1% year over year.
• Analysts remain generally bullish on the stock, with DoorDash holding a Moderate Buy consensus rating and an average price target of $259.58, even as some firms trimmed their targets.

Nomura Asset Management Co. Ltd. boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,960 shares of the company's stock after purchasing an additional 13,121 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in DoorDash were worth $35,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AXS Investments LLC increased its holdings in DoorDash by 1.3% in the fourth quarter. AXS Investments LLC now owns 5,438 shares of the company's stock valued at $1,232,000 after purchasing an additional 69 shares during the last quarter. MUFG Securities EMEA plc grew its stake in DoorDash by 116.3% in the fourth quarter. MUFG Securities EMEA plc now owns 15,325 shares of the company's stock valued at $3,471,000 after acquiring an additional 8,240 shares during the period. Forsta AP Fonden grew its stake in DoorDash by 5.3% in the fourth quarter. Forsta AP Fonden now owns 81,260 shares of the company's stock valued at $18,404,000 after acquiring an additional 4,060 shares during the period. Norges Bank acquired a new position in DoorDash in the fourth quarter valued at about $1,093,650,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in DoorDash in the fourth quarter valued at about $86,983,000. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $164.78 on Tuesday. The stock has a 50 day moving average price of $162.32 and a 200 day moving average price of $186.94. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $71.80 billion, a PE ratio of 78.47 and a beta of 1.83.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.15 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The business's quarterly revenue was up 33.1% compared to the same quarter last year. Analysts predict that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DASH has been the subject of a number of research analyst reports. BTIG Research reissued a "buy" rating and issued a $280.00 target price on shares of DoorDash in a research note on Thursday, May 7th. DA Davidson decreased their target price on DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Stifel Nicolaus decreased their target price on DoorDash from $215.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 13th. Rothschild & Co Redburn set a $350.00 target price on DoorDash in a research note on Tuesday, May 12th. Finally, TD Cowen initiated coverage on DoorDash in a research note on Monday, April 27th. They issued a "buy" rating and a $225.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $259.58.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of the company's stock in a transaction that occurred 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 sale, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the sale, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. This represents a 2.09% 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. In the last ninety days, insiders sold 69,808 shares of company stock valued at $11,135,403. Corporate insiders own 5.83% of the company's stock.

About DoorDash

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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