DoorDash, Inc. $DASH Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 21.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,108,014 shares of the company’s stock after acquiring an additional 197,485 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of DoorDash worth $273,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Night Squared LP acquired a new stake in shares of DoorDash during the 1st quarter valued at approximately $2,780,000. Mutual of America Capital Management LLC acquired a new stake in DoorDash during the 1st quarter valued at $7,200,000. Public Investment Fund increased its position in DoorDash by 68.3% during the first quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after buying an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP raised its holdings in shares of DoorDash by 6.7% in the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of DoorDash in the first quarter worth $29,261,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Up 1.4%

Shares of NASDAQ DASH opened at $258.15 on Friday. DoorDash, Inc. has a 52-week low of $152.26 and a 52-week high of $285.50. The firm has a fifty day moving average of $259.75 and a 200-day moving average of $232.56. The stock has a market capitalization of $110.28 billion, a PE ratio of 143.42 and a beta of 1.71. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company earned ($0.38) EPS. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Evercore ISI reissued an “outperform” rating and issued a $360.00 price target (up from $240.00) on shares of DoorDash in a report on Friday, August 8th. Mizuho set a $350.00 price target on DoorDash and gave the stock an “outperform” rating in a report on Monday, September 29th. Piper Sandler boosted their price target on DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upgraded DoorDash from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $325.00 in a report on Tuesday, October 14th. Finally, JMP Securities boosted their price target on DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.79.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total value of $12,180,324.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 34,166 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the completion of the transaction, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at approximately $139,605,508. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 932,156 shares of company stock worth $233,565,302 in the last quarter. Insiders own 5.83% of the company’s stock.

DoorDash 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.