DoorDash, Inc. $DASH Position Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 395.6% during the third quarter, HoldingsChannel.com reports. The firm owned 275,057 shares of the company’s stock after acquiring an additional 219,553 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DoorDash were worth $50,487,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DASH. Janus Henderson Group PLC lifted its position in DoorDash by 40.2% in the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after buying an additional 2,225,954 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of DoorDash by 372.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock valued at $575,928,000 after acquiring an additional 2,472,980 shares in the last quarter. Temasek Holdings Private Ltd increased its stake in shares of DoorDash by 49.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock worth $519,744,000 after acquiring an additional 1,145,078 shares during the last quarter. Bank of America Corp DE increased its stake in shares of DoorDash by 18.4% in the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock worth $517,907,000 after acquiring an additional 536,080 shares during the last quarter. Finally, Amundi increased its stake in shares of DoorDash by 31.1% in the first quarter. Amundi now owns 2,315,722 shares of the company’s stock worth $347,706,000 after acquiring an additional 549,387 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH opened at $193.53 on Tuesday. The company’s fifty day moving average is $204.51 and its 200-day moving average is $184.49. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $269.00. The firm has a market cap of $83.86 billion, a price-to-earnings ratio of 101.32 and a beta of 1.90. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. Equities analysts expect that DoorDash, Inc. will post 2.51 EPS for the current fiscal year.

Insider Activity

In other DoorDash news, Director Andy Fang sold 15,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $228.31, for a total transaction of $3,424,650.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,505 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the transaction, the chief financial officer owned 232,938 shares in the company, valued at approximately $51,390,781.56. This trade represents a 7.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 393,998 shares of company stock valued at $85,861,330. Corporate insiders own 44.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DASH. Jefferies Financial Group increased their price objective on DoorDash from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Loop Capital boosted their target price on DoorDash from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. BTIG Research reaffirmed a “buy” rating and issued a $225.00 target price on shares of DoorDash in a research report on Thursday, August 6th. The Goldman Sachs Group cut their price target on DoorDash from $280.00 to $275.00 in a research note on Thursday, August 6th. Finally, Truist Financial lifted their price target on DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.95.

About DoorDash

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.