Sumitomo Mitsui DS Asset Management Company Ltd Has $3.81 Million Holdings in DoorDash, Inc. (NASDAQ:DASH)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,706 shares of the company’s stock after selling 99 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DoorDash were worth $3,812,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DASH. Bleakley Financial Group LLC boosted its stake in DoorDash by 47.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 7,324 shares of the company’s stock valued at $1,045,000 after purchasing an additional 2,351 shares during the period. Vontobel Holding Ltd. boosted its position in shares of DoorDash by 65.5% in the third quarter. Vontobel Holding Ltd. now owns 11,645 shares of the company’s stock valued at $1,662,000 after acquiring an additional 4,607 shares during the period. Swedbank AB grew its stake in shares of DoorDash by 1.0% in the third quarter. Swedbank AB now owns 165,516 shares of the company’s stock valued at $23,624,000 after acquiring an additional 1,588 shares in the last quarter. Creative Planning grew its stake in shares of DoorDash by 58.3% in the third quarter. Creative Planning now owns 109,972 shares of the company’s stock valued at $15,696,000 after acquiring an additional 40,489 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in DoorDash during the third quarter worth about $97,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 5,005 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the completion of the transaction, the chief operating officer now owns 963,094 shares of the company’s stock, valued at $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shona L. Brown sold 5,005 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the sale, the director now owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 390,710 shares of company stock valued at $54,472,120 over the last ninety days. 7.92% of the stock is owned by company insiders.

DoorDash Stock Performance

DASH stock opened at $151.98 on Monday. The company has a market capitalization of $62.15 billion, a P/E ratio of -140.72, a PEG ratio of 425.82 and a beta of 1.70. The company has a fifty day moving average price of $135.26 and a 200-day moving average price of $122.85. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $152.52.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Redburn Atlantic initiated coverage on shares of DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 target price on the stock. DA Davidson increased their price target on DoorDash from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $125.00 price objective (up from $115.00) on shares of DoorDash in a report on Friday, August 2nd. KeyCorp raised DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 target price on the stock in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a research report on Monday, October 7th. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $148.16.

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.