Sumitomo Mitsui Trust Group Inc. Purchases 29,927 Shares of DoorDash, Inc. $DASH

Sumitomo Mitsui Trust Group Inc. boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 2.7% in the 3rd quarter, Holdings Channel reports. The firm owned 1,137,941 shares of the company’s stock after buying an additional 29,927 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DoorDash were worth $309,509,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DASH. Brighton Jones LLC increased its stake in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of DoorDash by 21.5% in the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after purchasing an additional 303 shares during the last quarter. Empowered Funds LLC increased its stake in DoorDash by 3.6% in the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock worth $1,486,000 after buying an additional 285 shares during the period. Focus Partners Wealth increased its stake in DoorDash by 251.6% in the 1st quarter. Focus Partners Wealth now owns 9,261 shares of the company’s stock worth $1,693,000 after buying an additional 6,627 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in DoorDash by 14.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,069 shares of the company’s stock valued at $744,000 after buying an additional 527 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research reports. Royal Bank Of Canada reduced their target price on shares of DoorDash from $300.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. BTIG Research reaffirmed a “buy” rating and set a $315.00 target price on shares of DoorDash in a research report on Thursday, November 6th. Oppenheimer reissued an “outperform” rating and set a $280.00 price target on shares of DoorDash in a research report on Thursday, November 6th. Wall Street Zen lowered DoorDash from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Jefferies Financial Group upped their price objective on shares of DoorDash from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.94.

DoorDash Stock Performance

Shares of DoorDash stock opened at $215.56 on Monday. The company has a market capitalization of $92.91 billion, a PE ratio of 109.42 and a beta of 1.70. The company has a 50-day simple moving average of $217.70 and a two-hundred day simple moving average of $241.40. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04.

DoorDash (NASDAQ:DASH) last issued 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 firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. Research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity

In other news, CEO Tony Xu sold 16,667 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $230.00, for a total value of $3,833,410.00. Following the completion of the sale, the chief executive officer owned 1,500 shares of the company’s stock, valued at $345,000. This trade represents a 91.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $222.52, for a total value of $6,675,600.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 642,011 shares of company stock worth $136,832,543. Company insiders own 5.83% of the company’s stock.

DoorDash Company 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.