Sumitomo Mitsui DS Asset Management Company Ltd Decreases Position in DoorDash, Inc. (NASDAQ:DASH)

Sumitomo Mitsui DS Asset Management Company Ltd cut its position in DoorDash, Inc. (NASDAQ:DASH) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,352 shares of the company’s stock after selling 307 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DoorDash were worth $2,210,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DASH. Versor Investments LP purchased a new position in shares of DoorDash during the third quarter valued at approximately $556,000. Assenagon Asset Management S.A. raised its holdings in shares of DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after purchasing an additional 1,052,198 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $769,000. Angeles Investment Advisors LLC purchased a new position in shares of DoorDash during the third quarter valued at approximately $336,000. Finally, Bank of Nova Scotia raised its holdings in shares of DoorDash by 685.9% during the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock valued at $3,715,000 after purchasing an additional 40,802 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Tony Xu sold 132,300 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andy Fang sold 66,195 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $139.31, for a total transaction of $9,221,625.45. Following the completion of the sale, the director now directly owns 36,482 shares in the company, valued at approximately $5,082,307.42. The disclosure for this sale can be found here. Insiders have sold a total of 497,282 shares of company stock valued at $64,885,042 over the last 90 days. 9.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Moffett Nathanson upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and boosted their target price for the company from $118.00 to $164.00 in a research report on Thursday, April 11th. Mizuho boosted their target price on shares of DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their target price on shares of DoorDash from $109.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Jefferies Financial Group upgraded shares of DoorDash from a “hold” rating to a “buy” rating and boosted their target price for the company from $90.00 to $130.00 in a research report on Monday, January 8th. Finally, UBS Group cut their target price on shares of DoorDash from $123.00 to $118.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $130.52.

DoorDash Stock Down 2.0 %

DoorDash stock opened at $126.76 on Thursday. The company has a market cap of $51.21 billion, a price-to-earnings ratio of -88.64, a PEG ratio of 14.16 and a beta of 1.79. The firm’s fifty day moving average is $130.95 and its 200 day moving average is $108.06. DoorDash, Inc. has a 52-week low of $56.59 and a 52-week high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. DoorDash’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.63) EPS. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.21 earnings per share for the current fiscal year.

DoorDash 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.