Resona Asset Management Co. Ltd. Acquires 2,876 Shares of DoorDash, Inc. $DASH

Resona Asset Management Co. Ltd. grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,923 shares of the company’s stock after acquiring an additional 2,876 shares during the period. Resona Asset Management Co. Ltd.’s holdings in DoorDash were worth $17,509,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DASH. Keel Point LLC lifted its holdings in DoorDash by 4.3% during the 3rd quarter. Keel Point LLC now owns 1,393 shares of the company’s stock worth $379,000 after purchasing an additional 58 shares in the last quarter. CYBER HORNET ETFs LLC grew its holdings in DoorDash by 6.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after buying an additional 60 shares in the last quarter. Vise Technologies Inc. increased its position in shares of DoorDash by 1.8% during the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock valued at $796,000 after buying an additional 63 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of DoorDash by 7.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company’s stock valued at $222,000 after buying an additional 64 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in shares of DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after buying an additional 67 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the sale, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. The trade was a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the transaction, the general counsel directly owned 128,216 shares in the company, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 65,832 shares of company stock worth $11,534,308 in the last quarter. 5.83% of the stock is owned by company insiders.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $192.35 on Friday. The company’s fifty day moving average price is $167.31 and its 200-day moving average price is $179.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $83.81 billion, a price-to-earnings ratio of 91.60 and a beta of 1.78. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. DA Davidson cut their price objective on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company lowered their target price on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Monday. Susquehanna cut their price target on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a report on Friday, May 8th. Guggenheim restated a “buy” rating and set a $255.00 price target on shares of DoorDash in a research report on Tuesday, June 23rd. Finally, Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Two equities 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $256.08.

DoorDash Profile

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.