DoorDash, Inc. $DASH Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 105,961 shares of the company’s stock after buying an additional 7,412 shares during the period. Daiwa Securities Group Inc.’s holdings in DoorDash were worth $23,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eastern Bank lifted its stake in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after acquiring an additional 67 shares during the last quarter. ST Germain D J Co. Inc. purchased a new stake in shares of DoorDash during the fourth quarter worth about $29,000. Morse Asset Management Inc purchased a new stake in shares of DoorDash during the third quarter worth about $36,000. Finally, Rossby Financial LCC increased its position in shares of DoorDash by 127.8% during the third quarter. Rossby Financial LCC now owns 164 shares of the company’s stock worth $44,000 after acquiring an additional 92 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Down 2.0%

NASDAQ:DASH opened at $156.80 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $162.40 and a 200-day moving average of $185.84. The firm has a market capitalization of $68.32 billion, a PE ratio of 74.67 and a beta of 1.83. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business’s revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. Analysts predict that DoorDash, Inc. will post 2.45 EPS for the current year.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at $148,896,549. The trade was a 2.22% decrease in their position. The sale was disclosed in a document filed 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, Director Stanley Tang sold 21,433 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the transaction, the director directly owned 19,279 shares in the company, valued at $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 69,808 shares of company stock worth $11,135,403. 5.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of analyst reports. Bank of America lifted their target price on DoorDash from $260.00 to $272.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Sanford C. Bernstein dropped their target price on DoorDash from $285.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Susquehanna dropped their target price on DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a research report on Friday, May 8th. TD Cowen initiated coverage on DoorDash in a research report on Monday, April 27th. They set a “buy” rating and a $225.00 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $280.00 target price on shares of DoorDash in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.58.

About DoorDash

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.