Sumitomo Mitsui DS Asset Management Company Ltd Sells 307 Shares of DoorDash, Inc. (NASDAQ:DASH)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,352 shares of the company’s stock after selling 307 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DoorDash were worth $2,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DASH. National Bank of Canada FI increased its stake in DoorDash by 13.1% in the third quarter. National Bank of Canada FI now owns 1,081 shares of the company’s stock valued at $86,000 after acquiring an additional 125 shares during the last quarter. CWM LLC boosted its position in DoorDash by 19.4% in the third quarter. CWM LLC now owns 2,684 shares of the company’s stock valued at $213,000 after buying an additional 437 shares in the last quarter. SG Americas Securities LLC boosted its position in DoorDash by 1,139.2% in the third quarter. SG Americas Securities LLC now owns 24,994 shares of the company’s stock valued at $1,986,000 after buying an additional 22,977 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in DoorDash in the third quarter valued at approximately $94,000. Finally, Oak Thistle LLC acquired a new stake in DoorDash in the third quarter valued at approximately $351,000. 90.64% of the stock is owned by institutional investors.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Ravi Inukonda sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $109.73, for a total transaction of $548,650.00. Following the completion of the sale, the chief financial officer now directly owns 414,738 shares of the company’s stock, valued at $45,509,200.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The disclosure for this sale can be found here. Insiders sold a total of 497,282 shares of company stock valued at $64,885,042 over the last three months. Corporate insiders own 9.59% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the topic of a number of research analyst reports. Roth Mkm raised their target price on shares of DoorDash from $92.00 to $109.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. JMP Securities raised their target price on shares of DoorDash from $130.00 to $160.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 27th. Morgan Stanley upgraded shares of DoorDash from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $135.00 to $145.00 in a research report on Thursday, February 22nd. Loop Capital initiated coverage on shares of DoorDash in a report on Friday, April 19th. They set a “buy” rating and a $170.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on shares of DoorDash from $120.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.52.

DoorDash Trading Down 2.0 %

DASH opened at $126.76 on Thursday. DoorDash, Inc. has a 1-year low of $56.59 and a 1-year high of $143.34. The company has a market cap of $51.21 billion, a P/E ratio of -88.64, a price-to-earnings-growth ratio of 14.16 and a beta of 1.79. The company has a fifty day moving average price of $130.95 and a two-hundred day moving average price of $108.06.

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

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.