Rakuten Investment Management Inc. Purchases 63,919 Shares of DoorDash, Inc. $DASH

Key Points

• Rakuten Investment Management sharply increased its DoorDash stake by 846.9% in the fourth quarter, buying 63,919 additional shares and bringing its total holding to 71,466 shares worth about $16.5 million.
• Several other hedge funds also adjusted their positions in DoorDash, and institutional investors now own 90.64% of the stock.
• DoorDash shares were up 11.6% to $168.09, while the company recently beat EPS expectations in its latest earnings report; analysts currently rate the stock a Moderate Buy with a consensus price target of $256.11.

Rakuten Investment Management Inc. lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 846.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,466 shares of the company's stock after purchasing an additional 63,919 shares during the quarter. Rakuten Investment Management Inc.'s holdings in DoorDash were worth $16,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in DASH. Eastern Bank boosted its position in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Swiss RE Ltd. purchased a new position in DoorDash during the fourth quarter valued at $28,000. ST Germain D J Co. Inc. purchased a new position in DoorDash during the fourth quarter valued at $29,000. Sunbelt Securities Inc. raised its stake in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock valued at $33,000 after buying an additional 67 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in DoorDash during the third quarter valued at $36,000. 90.64% of the stock is currently owned by institutional investors.

Insider Transactions at DoorDash

In related news, insider Keith Yandell sold 2,643 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total transaction of $410,563.62. Following the completion of the sale, the insider owned 81,106 shares in the company, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the sale, the director owned 19,279 shares of the company's stock, valued at approximately $2,891,850. This trade represents a 52.65% 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. Insiders have sold a total of 68,558 shares of company stock worth $10,914,640 in the last three months. 5.83% of the stock is owned by insiders.

DoorDash Stock Up 11.6%

DoorDash stock opened at $168.09 on Tuesday. The stock has a market cap of $73.24 billion, a PE ratio of 80.04 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The stock has a fifty day moving average of $162.97 and a 200 day moving average of $183.96.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.DoorDash's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Sanford C. Bernstein lowered their price objective on DoorDash from $285.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, February 19th. Moffett Nathanson set a $276.00 price objective on DoorDash in a research note on Wednesday, April 15th. Susquehanna lowered their price objective on DoorDash from $250.00 to $225.00 and set a "positive" rating for the company in a research note on Friday, May 8th. Citigroup lowered their price objective on DoorDash from $280.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Finally, Barclays lowered their price objective on DoorDash from $238.00 to $220.00 and set an "equal weight" rating for the company in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.11.

DoorDash Profile

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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