Meiji Yasuda Asset Management Co Ltd. Raises Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in DoorDash, Inc. (NASDAQ:DASH) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,510 shares of the company’s stock after buying an additional 260 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in DoorDash were worth $757,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in DoorDash in the 4th quarter worth $146,094,000. Janus Henderson Group PLC increased its stake in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Amundi raised its position in shares of DoorDash by 65.0% during the 4th quarter. Amundi now owns 1,407,884 shares of the company’s stock worth $244,578,000 after purchasing an additional 554,675 shares during the last quarter. Franklin Resources Inc. lifted its stake in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in DoorDash by 37.5% in the 4th quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock worth $294,701,000 after buying an additional 476,360 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Up 0.6 %

DASH opened at $194.02 on Friday. The stock’s 50-day moving average price is $191.84 and its 200 day moving average price is $171.37. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The firm has a market cap of $81.51 billion, a price-to-earnings ratio of 718.59 and a beta of 1.70.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $170.01, for a total transaction of $8,500,500.00. Following the sale, the director now owns 16,176 shares of the company’s stock, valued at approximately $2,750,081.76. This represents a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 14,715 shares of DoorDash stock in a transaction on Monday, March 24th. The shares were sold at an average price of $196.52, for a total value of $2,891,791.80. Following the completion of the transaction, the chief financial officer now owns 338,055 shares of the company’s stock, valued at approximately $66,434,568.60. This trade represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 358,445 shares of company stock worth $63,443,370 over the last three months. Company insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research analyst reports. Truist Financial increased their target price on DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wedbush raised their price objective on DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a report on Thursday, February 6th. Loop Capital raised their price target on shares of DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.52.

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.