Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in DoorDash, Inc. (NYSE:DASH – Get Rating) by 75.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,777 shares of the company's stock after purchasing an additional 5,940 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in DoorDash were worth $884,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of DoorDash by 82.6% during the 4th quarter. Capital Research Global Investors now owns 9,006,254 shares of the company's stock valued at $1,341,031,000 after acquiring an additional 4,074,501 shares during the last quarter. Hhlr Advisors LTD. increased its stake in shares of DoorDash by 199.4% during the 1st quarter. Hhlr Advisors LTD. now owns 3,881,700 shares of the company's stock valued at $454,896,000 after acquiring an additional 2,585,400 shares during the last quarter. Coatue Management LLC increased its stake in shares of DoorDash by 80.0% during the 1st quarter. Coatue Management LLC now owns 5,280,472 shares of the company's stock valued at $618,819,000 after acquiring an additional 2,347,602 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of DoorDash by 18.8% during the 1st quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company's stock valued at $1,507,402,000 after acquiring an additional 2,032,637 shares during the last quarter. Finally, Dragoneer Investment Group LLC increased its stake in shares of DoorDash by 121.2% during the 1st quarter. Dragoneer Investment Group LLC now owns 3,294,334 shares of the company's stock valued at $386,063,000 after acquiring an additional 1,805,124 shares during the last quarter. Institutional investors and hedge funds own 80.51% of the company's stock.
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In related news, General Counsel Tia Sherringham sold 625 shares of the company's stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $74.25, for a total transaction of $46,406.25. Following the sale, the general counsel now directly owns 167,959 shares of the company's stock, valued at approximately $12,470,955.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Christopher D. Payne sold 16,443 shares of the company's stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $63.83, for a total transaction of $1,049,556.69. Following the sale, the chief operating officer now directly owns 370,890 shares of the company's stock, valued at approximately $23,673,908.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Tia Sherringham sold 625 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $74.25, for a total value of $46,406.25. Following the completion of the sale, the general counsel now directly owns 167,959 shares in the company, valued at $12,470,955.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,034 shares of company stock valued at $8,462,412. Corporate insiders own 15.54% of the company's stock.
DoorDash Trading Down 3.7 %
DoorDash stock opened at $52.01 on Friday. The stock has a market cap of $20.08 billion, a P/E ratio of -26.67 and a beta of 1.24. The stock has a 50 day moving average of $67.25 and a 200-day moving average of $77.48. DoorDash, Inc. has a 52 week low of $50.54 and a 52 week high of $257.25.DoorDash (NYSE:DASH – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.33). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.52 billion. DoorDash had a negative net margin of 12.16% and a negative return on equity of 12.82%. The business's revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.30) earnings per share. As a group, equities analysts predict that DoorDash, Inc. will post -2.36 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
DASH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of DoorDash from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, June 29th. JMP Securities decreased their target price on DoorDash from $200.00 to $150.00 and set a "buy" rating for the company in a report on Thursday, June 2nd. Evercore ISI boosted their target price on DoorDash from $98.00 to $122.00 and gave the stock an "outperform" rating in a report on Friday, August 5th. Truist Financial decreased their target price on DoorDash from $200.00 to $185.00 and set a "buy" rating for the company in a report on Thursday, June 2nd. Finally, DA Davidson decreased their target price on DoorDash from $135.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, June 3rd. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $131.70.
DoorDash Company Profile
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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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