Sumitomo Mitsui Trust Group Inc. Has $166.42 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Sumitomo Mitsui Trust Group Inc. lifted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 13.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 910,529 shares of the company's stock after purchasing an additional 110,834 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of DoorDash worth $166,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its position in shares of DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after purchasing an additional 54 shares during the period. ORG Partners LLC boosted its position in DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC boosted its position in DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after acquiring an additional 247 shares during the period. Mizuho Securities Co. Ltd. boosted its position in DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after acquiring an additional 180 shares during the period. Finally, Larson Financial Group LLC boosted its position in DoorDash by 695.6% during the 4th quarter. Larson Financial Group LLC now owns 358 shares of the company's stock worth $60,000 after acquiring an additional 313 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $184.85, for a total value of $3,697,000.00. Following the transaction, the chief operating officer now directly owns 887,348 shares of the company's stock, valued at $164,026,277.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the transaction, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,552 shares of company stock valued at $63,965,566 in the last three months. Company insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

DASH has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective 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. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Wedbush restated an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. FBN Securities initiated coverage on DoorDash in a research report on Friday, March 28th. They set an "outperform" rating and a $230.00 price objective for the company. Finally, Evercore ISI restated an "outperform" rating on shares of DoorDash in a research report on Monday, March 10th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $214.76.

DoorDash Stock Performance

Shares of DASH stock opened at $242.32 on Friday. The stock's 50 day simple moving average is $206.04 and its 200 day simple moving average is $191.43. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $242.63. The company has a market capitalization of $102.68 billion, a price-to-earnings ratio of 314.71 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company 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 company's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. On average, analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.

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