Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in DoorDash, Inc. (NASDAQ:DASH)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 42.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,822 shares of the company's stock after buying an additional 12,505 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in DoorDash were worth $7,644,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. IFP Advisors Inc boosted its position in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after buying an additional 54 shares during the period. ORG Partners LLC boosted its position in shares of DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after buying an additional 202 shares during the period. Rothschild Investment LLC boosted its position in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after buying an additional 247 shares during the period. Mizuho Securities Co. Ltd. boosted its position in shares of DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after buying an additional 180 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new position in shares of DoorDash during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DASH shares. Bank of America boosted their target price on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Wells Fargo & Company dropped their target price on DoorDash from $201.00 to $198.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. DA Davidson boosted their target price on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. KeyCorp lowered their price target on DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Evercore ISI reiterated an "outperform" rating on shares of DoorDash in a report on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $219.32.

DoorDash Stock Performance

NASDAQ:DASH traded down $0.05 during trading hours on Friday, reaching $238.76. The company's stock had a trading volume of 1,699,692 shares, compared to its average volume of 4,243,732. The stock has a 50 day moving average price of $211.96 and a two-hundred day moving average price of $193.70. The company has a market capitalization of $101.17 billion, a P/E ratio of 310.08 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $248.74.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) earnings per share. As a group, analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the transaction, the director directly owned 22,545 shares of the company's stock, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $220.71, for a total value of $9,765,093.24. Following the transaction, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 427,781 shares of company stock valued at $94,277,848. 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.