DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,840 shares of the company’s stock after buying an additional 180 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in DoorDash were worth $418,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DASH. Meeder Asset Management Inc. lifted its position in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of DoorDash during the second quarter worth $32,000. Versant Capital Management Inc lifted its holdings in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the last quarter. Finally, Quest Partners LLC boosted its position in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $139.72 on Friday. The stock’s 50 day simple moving average is $120.68 and its 200 day simple moving average is $121.53. DoorDash, Inc. has a twelve month low of $69.90 and a twelve month high of $143.34. The company has a market capitalization of $57.13 billion, a price-to-earnings ratio of -129.37, a PEG ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) EPS. On average, analysts forecast that DoorDash, Inc. will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now directly owns 19,982 shares in the company, valued at approximately $2,109,499.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The disclosure for this sale can be found here. Insiders have sold 304,769 shares of company stock worth $34,760,113 in the last quarter. 7.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Cantor Fitzgerald started coverage on shares of DoorDash in a research note on Thursday, September 5th. They set an “overweight” rating and a $160.00 price objective for the company. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research report on Friday, August 2nd. Truist Financial lifted their price objective on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Roth Mkm increased their target price on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Benchmark reiterated a “buy” rating and set a $150.00 price target on shares of DoorDash in a report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.00.

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.