Sumitomo Mitsui Trust Holdings Inc. Purchases 47,725 Shares of DoorDash, Inc. (NASDAQ:DASH)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 689,785 shares of the company’s stock after purchasing an additional 47,725 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in DoorDash were worth $94,997,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Parkside Financial Bank & Trust raised its holdings in shares of DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after buying an additional 307 shares in the last quarter. Valley National Advisers Inc. acquired a new position in DoorDash during the fourth quarter worth about $43,000. SJS Investment Consulting Inc. lifted its holdings in shares of DoorDash by 26.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after acquiring an additional 98 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of DoorDash in the 4th quarter valued at approximately $49,000. Finally, EdgeRock Capital LLC bought a new stake in shares of DoorDash during the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 66,195 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $139.31, for a total value of $9,221,625.45. Following the transaction, the director now owns 36,482 shares in the company, valued at $5,082,307.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 66,195 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $139.31, for a total transaction of $9,221,625.45. Following the completion of the transaction, the director now directly owns 36,482 shares in the company, valued at approximately $5,082,307.42. The disclosure for this sale can be found here. Insiders sold 553,345 shares of company stock valued at $66,416,801 in the last three months. Corporate insiders own 7.92% of the company’s stock.

DoorDash Stock Up 0.2 %

NASDAQ:DASH opened at $107.62 on Thursday. DoorDash, Inc. has a twelve month low of $69.90 and a twelve month high of $143.34. The company has a fifty day moving average of $114.41 and a 200-day moving average of $117.37. The firm has a market capitalization of $44.01 billion, a P/E ratio of -99.65, a P/E/G ratio of 27.50 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the firm posted ($0.41) earnings per share. The business’s revenue was up 23.5% compared to the same quarter last year. On average, analysts anticipate that DoorDash, Inc. will post 0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DASH shares. Piper Sandler upgraded shares of DoorDash from an “underweight” rating to a “neutral” rating and raised their target price for the company from $53.00 to $127.00 in a research report on Friday, March 15th. Roth Mkm dropped their price target on DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Oppenheimer boosted their price objective on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. increased their target price on DoorDash from $108.00 to $111.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $137.00 price target on shares of DoorDash in a report on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.79.

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.