Resona Asset Management Co. Ltd. Grows Position in DoorDash, Inc. $DASH

Resona Asset Management Co. Ltd. increased its position in DoorDash, Inc. (NASDAQ:DASH) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,923 shares of the company’s stock after buying an additional 2,876 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in DoorDash were worth $17,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new stake in DoorDash during the 4th quarter valued at $26,000. Eastern Bank increased its position in shares of DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. raised its stake in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after acquiring an additional 67 shares during the last quarter. Swiss RE Ltd. bought a new position in shares of DoorDash during the fourth quarter valued at about $28,000. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of DoorDash during the fourth quarter worth about $29,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of DoorDash stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the transaction, the insider directly owned 81,106 shares of the company’s stock, valued at approximately $12,599,006.04. This trade represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 65,832 shares of company stock valued at $11,534,308. Company insiders own 5.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on DASH shares. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Rothschild & Co Redburn set a $350.00 price objective on DoorDash in a report on Tuesday, May 12th. Stifel Nicolaus cut their price objective on DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Susquehanna reduced their target price on DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a research note on Friday, May 8th. Finally, TD Cowen assumed coverage on DoorDash in a report on Monday, April 27th. They set a “buy” rating and a $225.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $256.08.

DoorDash Stock Up 1.6%

DASH stock opened at $192.35 on Friday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a market capitalization of $83.81 billion, a price-to-earnings ratio of 91.60 and a beta of 1.78. The business’s 50 day moving average price is $167.31 and its two-hundred day moving average price is $179.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm’s revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. As a group, analysts forecast that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.