DoorDash, Inc. $DASH Stake Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in DoorDash, Inc. by 7.3% during the second quarter, holding a total of 44,880 shares valued at $11,063,000.
• Several other large investors also boosted their positions in DoorDash, demonstrating strong institutional interest, with hedge funds and institutional investors owning 90.64% of the stock.
• DoorDash reported quarterly earnings of $0.65 per share, exceeding analysts' expectations; its revenue for the quarter stood at $3.28 billion, reflecting a 24.9% increase year-over-year.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 7.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,880 shares of the company's stock after buying an additional 3,058 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in DoorDash were worth $11,063,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after buying an additional 641,601 shares during the last quarter. Invesco Ltd. increased its holdings in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after buying an additional 1,416,194 shares during the last quarter. Northern Trust Corp increased its holdings in DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock worth $604,829,000 after buying an additional 915,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in DoorDash by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after buying an additional 842,637 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DASH shares. Zacks Research upgraded DoorDash to a "hold" rating in a report on Tuesday, August 12th. Jefferies Financial Group increased their price target on DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 11th. Stifel Nicolaus raised their price objective on shares of DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. KeyCorp restated an "overweight" rating and issued a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Oppenheimer raised their price objective on shares of DoorDash from $280.00 to $310.00 and gave the stock an "outperform" rating 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 given a Hold rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus price target of $268.76.

DoorDash Trading Down 1.0%

Shares of DASH stock traded down $2.78 on Friday, reaching $265.29. The company had a trading volume of 10,684,224 shares, compared to its average volume of 2,651,273. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $250.23 and a 200-day moving average of $218.21. DoorDash, Inc. has a 12 month low of $136.53 and a 12 month high of $278.15. The stock has a market cap of $113.33 billion, a PE ratio of 147.38 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business's revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.38) EPS. On average, equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total value of $7,299,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,026,048 shares of company stock valued at $251,592,950. Corporate 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.