Daiwa Securities Group Inc. Has $24.18 Million Stock Position in DoorDash, Inc. $DASH

Daiwa Securities Group Inc. boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,081 shares of the company’s stock after buying an additional 7,342 shares during the quarter. Daiwa Securities Group Inc.’s holdings in DoorDash were worth $24,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DASH. Night Squared LP bought a new position in shares of DoorDash during the first quarter worth approximately $2,780,000. Public Investment Fund grew its position in DoorDash by 68.3% during the first quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after buying an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP grew its position in DoorDash by 6.7% during the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after buying an additional 5,000 shares in the last quarter. Junto Capital Management LP bought a new position in DoorDash during the 1st quarter worth $29,261,000. Finally, Greenland Capital Management LP increased its stake in DoorDash by 637.5% during the 2nd quarter. Greenland Capital Management LP now owns 23,572 shares of the company’s stock worth $5,811,000 after acquiring an additional 20,376 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $280.00 target price on shares of DoorDash in a research report on Thursday, November 6th. Wedbush raised DoorDash from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $260.00 in a research note on Thursday, November 13th. KeyCorp reiterated an “overweight” rating and set a $280.00 price objective on shares of DoorDash in a research note on Friday, November 21st. Bank of America decreased their target price on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, Citigroup restated a “market outperform” rating on shares of DoorDash in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $275.62.

DoorDash Stock Up 2.0%

DASH stock opened at $229.99 on Wednesday. The firm has a 50-day moving average price of $235.51 and a 200-day moving average price of $239.70. DoorDash, Inc. has a 12 month low of $155.40 and a 12 month high of $285.50. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $99.13 billion, a P/E ratio of 116.75 and a beta of 1.72.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.DoorDash’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 30,000 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $270.60, for a total value of $8,118,000.00. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at approximately $247,476,418.20. This represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.20, for a total value of $8,046,000.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 679,563 shares of company stock valued at $152,902,593. 5.83% of the stock is owned by company insiders.

DoorDash Profile

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.