Rakuten Investment Management Inc. Buys 63,919 Shares of DoorDash, Inc. $DASH

Rakuten Investment Management Inc. raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 846.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 71,466 shares of the company’s stock after purchasing an additional 63,919 shares during the period. Rakuten Investment Management Inc.’s holdings in DoorDash were worth $16,509,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Eastern Bank grew its holdings in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Swiss RE Ltd. bought a new stake in DoorDash during the fourth quarter valued at about $28,000. ST Germain D J Co. Inc. bought a new stake in DoorDash during the fourth quarter valued at about $29,000. Sunbelt Securities Inc. grew its holdings in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares during the period. Finally, Morse Asset Management Inc bought a new stake in DoorDash during the third quarter valued at about $36,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

NASDAQ:DASH opened at $168.09 on Tuesday. 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 company has a market capitalization of $73.24 billion, a P/E ratio of 80.04 and a beta of 1.83. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The business’s 50-day moving average is $162.97 and its 200 day moving average is $183.96.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion for 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 firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. On average, equities research analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 price objective on shares of DoorDash in a research note on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $275.00 price objective on shares of DoorDash in a research note on Thursday, February 19th. Oppenheimer dropped their price objective on DoorDash from $280.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Wells Fargo & Company upped their price objective on DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Evercore set a $300.00 price objective on DoorDash in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $256.11.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 21,433 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $3,214,950.00. Following the sale, the director directly owned 19,279 shares in the company, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the sale, the insider owned 81,106 shares in the company, valued at $12,599,006.04. This represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 68,558 shares of company stock valued at $10,914,640 over the last three months. Corporate 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.