Mitsubishi UFJ Trust & Banking Corp Cuts Stake in DoorDash, Inc. $DASH

Mitsubishi UFJ Trust & Banking Corp cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 26.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 358,081 shares of the company’s stock after selling 125,848 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of DoorDash worth $88,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gilbert & Cook Inc. boosted its holdings in shares of DoorDash by 2.6% in the 2nd quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock valued at $415,000 after purchasing an additional 42 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of DoorDash by 1.3% during the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock worth $912,000 after buying an additional 46 shares during the last quarter. Yeomans Consulting Group Inc. raised its position in shares of DoorDash by 3.9% in the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock worth $326,000 after buying an additional 51 shares during the period. Palo Alto Wealth Advisors LLC boosted its holdings in DoorDash by 0.4% in the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company’s stock valued at $2,385,000 after acquiring an additional 54 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in DoorDash by 9.0% in the second quarter. Westside Investment Management Inc. now owns 654 shares of the company’s stock valued at $160,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DASH. Needham & Company LLC set a $300.00 price objective on DoorDash and gave the stock a “buy” rating in a report on Thursday, August 7th. Citigroup reissued an “outperform” rating on shares of DoorDash in a research report on Thursday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 price target on shares of DoorDash in a research report on Thursday, November 6th. Piper Sandler boosted their price objective on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered shares of DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $280.62.

DoorDash Trading Down 1.7%

NASDAQ DASH opened at $200.63 on Wednesday. The company’s fifty day simple moving average is $257.06 and its 200-day simple moving average is $238.27. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week 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 cap of $85.71 billion, a P/E ratio of 101.84 and a beta of 1.70.

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

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $263.86, for a total value of $376,000.50. Following the completion of the transaction, the chief financial officer owned 214,147 shares of the company’s stock, valued at approximately $56,504,827.42. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 24,968 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total value of $6,799,285.76. Following the sale, the chief operating officer owned 909,579 shares of the company’s stock, valued at approximately $247,696,553.28. This trade represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 825,277 shares of company stock valued at $205,015,591. 5.83% of the stock is currently owned by 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.