Nomura Asset Management Co. Ltd. Has $17.92 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Nomura Asset Management Co. Ltd. cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,803 shares of the company’s stock after selling 3,470 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in DoorDash were worth $17,916,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DASH. Norges Bank acquired a new position in DoorDash during the 4th quarter valued at $597,443,000. Blair William & Co. IL increased its holdings in shares of DoorDash by 18.2% during the 4th quarter. Blair William & Co. IL now owns 4,304 shares of the company’s stock worth $722,000 after purchasing an additional 664 shares during the period. NEOS Investment Management LLC raised its position in shares of DoorDash by 19.6% during the fourth quarter. NEOS Investment Management LLC now owns 25,874 shares of the company’s stock valued at $4,340,000 after buying an additional 4,244 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its stake in shares of DoorDash by 13.0% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 30,514 shares of the company’s stock valued at $5,119,000 after buying an additional 3,507 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in DoorDash by 6.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 303,946 shares of the company’s stock worth $53,178,000 after buying an additional 18,493 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Activity

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $169.32, for a total value of $1,185,240.00. Following the completion of the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at $62,139,254.76. This represents a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $170.01, for a total value of $8,500,500.00. Following the transaction, the director now owns 16,176 shares in the company, valued at $2,750,081.76. This trade represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 358,445 shares of company stock valued at $63,443,370 in the last quarter. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $182.61 on Friday. The firm has a 50 day moving average price of $192.00 and a 200 day moving average price of $172.10. The stock has a market cap of $76.71 billion, a P/E ratio of 676.33 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DASH. Evercore ISI reissued an “outperform” rating on shares of DoorDash in a report on Monday, March 10th. JPMorgan Chase & Co. raised their target price on DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Mizuho boosted their price target on shares of DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a research report on Thursday, February 6th. Finally, FBN Securities initiated coverage on DoorDash in a research report on Friday. They set an “outperform” rating and a $230.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $207.21.

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.