DoorDash, Inc. (NASDAQ:DASH) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 10.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 112,181 shares of the company’s stock after buying an additional 10,755 shares during the quarter. Asset Management One Co. Ltd.’s holdings in DoorDash were worth $16,012,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC increased its holdings in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares in the last quarter. Headlands Technologies LLC purchased a new position in DoorDash in the second quarter valued at about $32,000. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares in the last quarter. Versant Capital Management Inc increased its holdings in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 324,539 shares of company stock worth $46,439,330. Corporate insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Benchmark increased their target price on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley raised their price objective on shares of DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. DA Davidson raised their price objective on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Roth Mkm raised their price objective on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Redburn Atlantic started coverage on shares of DoorDash in a research note on Friday, July 26th. They set a “buy” rating and a $170.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Stock Performance

NASDAQ DASH opened at $159.46 on Wednesday. The firm has a market capitalization of $65.62 billion, a price-to-earnings ratio of -354.36, a PEG ratio of 18.08 and a beta of 1.67. DoorDash, Inc. has a one year low of $83.58 and a one year high of $165.07. The company’s 50 day moving average price is $140.97 and its 200 day moving average price is $124.29.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 0.17 EPS 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.