Sumitomo Mitsui DS Asset Management Company Ltd Purchases 12,505 Shares of DoorDash, Inc. (NASDAQ:DASH)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 42.7% during the 1st quarter, HoldingsChannel reports. The firm owned 41,822 shares of the company’s stock after purchasing an additional 12,505 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DoorDash were worth $7,644,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares during the last quarter. ORG Partners LLC raised its position in DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company’s stock worth $46,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC boosted its stake in shares of DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company’s stock worth $48,000 after acquiring an additional 247 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its stake in shares of DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company’s stock worth $55,000 after acquiring an additional 180 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in shares of DoorDash during the 1st quarter valued at $56,000. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DASH. Stifel Nicolaus set a $198.00 target price on DoorDash and gave the stock a “hold” rating in a report on Tuesday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Benchmark lifted their price objective on DoorDash from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their target price on shares of DoorDash from $201.00 to $198.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.32.

DoorDash Price Performance

NASDAQ:DASH opened at $238.01 on Wednesday. The company has a market cap of $100.85 billion, a price-to-earnings ratio of 309.11 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $248.74. The stock’s 50 day simple moving average is $208.76 and its two-hundred day simple moving average is $192.35.

DoorDash (NASDAQ:DASH) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. DoorDash’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. As a group, analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 45,231 shares of DoorDash stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $211.36, for a total value of $9,560,024.16. Following the completion of the transaction, the director owned 26,070 shares in the company, valued at approximately $5,510,155.20. This trade represents a 63.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 62,267 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the sale, the chief operating officer directly owned 942,554 shares in the company, valued at $191,027,419.18. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 298,142 shares of company stock valued at $62,950,920 over the last ninety days. Corporate insiders own 5.83% of the company’s stock.

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.