Mitsubishi UFJ Trust & Banking Corp Reduces Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 546,722 shares of the company’s stock after selling 65,881 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.14% of DoorDash worth $75,297,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new position in shares of DoorDash in the first quarter worth $2,969,000. Pinkerton Retirement Specialists LLC bought a new position in DoorDash during the 1st quarter valued at about $548,000. Orion Portfolio Solutions LLC boosted its holdings in shares of DoorDash by 37.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 6,490 shares of the company’s stock valued at $894,000 after acquiring an additional 1,762 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in shares of DoorDash by 7.6% during the 1st quarter. Picton Mahoney Asset Management now owns 110,508 shares of the company’s stock valued at $15,219,000 after acquiring an additional 7,771 shares during the last quarter. Finally, SageView Advisory Group LLC grew its stake in shares of DoorDash by 34.0% in the first quarter. SageView Advisory Group LLC now owns 3,430 shares of the company’s stock worth $472,000 after acquiring an additional 871 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $113.40, for a total value of $5,670,000.00. Following the completion of the sale, the director now owns 39,275 shares of the company’s stock, valued at $4,453,785. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the completion of the transaction, the director now owns 39,275 shares in the company, valued at approximately $4,453,785. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total transaction of $916,650.00. Following the sale, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at $50,340,453.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 459,016 shares of company stock worth $50,495,566. 7.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DASH shares. Royal Bank of Canada lowered their price objective on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Citigroup increased their price objective on shares of DoorDash from $141.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Wolfe Research began coverage on shares of DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of DoorDash from $108.00 to $111.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of DoorDash in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.60.

DoorDash Price Performance

DASH traded up $5.82 on Friday, reaching $106.10. The company’s stock had a trading volume of 5,782,981 shares, compared to its average volume of 4,185,369. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $143.34. The business’s 50 day moving average is $110.86 and its 200 day moving average is $117.92. The stock has a market cap of $43.39 billion, a price-to-earnings ratio of -98.24, a price-to-earnings-growth ratio of 30.98 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, research analysts forecast that DoorDash, Inc. will post 0.09 earnings per share for the current fiscal year.

About DoorDash

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.