Sumitomo Mitsui Trust Group Inc. Has $171.59 Million Stake in DoorDash, Inc. $DASH

Sumitomo Mitsui Trust Group Inc. decreased its stake in DoorDash, Inc. (NASDAQ:DASH) by 6.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,142,792 shares of the company’s stock after selling 81,518 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in DoorDash were worth $171,590,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Keel Point LLC raised its position in shares of DoorDash by 4.3% in the 3rd quarter. Keel Point LLC now owns 1,393 shares of the company’s stock worth $379,000 after acquiring an additional 58 shares in the last quarter. CYBER HORNET ETFs LLC raised its stake in DoorDash by 6.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock worth $222,000 after buying an additional 60 shares during the period. Vise Technologies Inc. boosted its holdings in DoorDash by 1.8% in the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after acquiring an additional 63 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in DoorDash by 7.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company’s stock worth $222,000 after acquiring an additional 64 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after acquiring an additional 67 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DASH shares. DA Davidson decreased their price objective on DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Citigroup reissued a “market outperform” rating on shares of DoorDash in a research report on Monday, June 22nd. Guggenheim reissued a “buy” rating and set a $255.00 target price on shares of DoorDash in a research report on Tuesday, June 23rd. Moffett Nathanson set a $276.00 target price on DoorDash in a research note on Wednesday, April 15th. Finally, Weiss Ratings upgraded DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.08.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 owned 959,076 shares of the company’s stock, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of DoorDash stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total transaction of $410,563.62. Following the transaction, the insider directly owned 81,106 shares in the company, valued at $12,599,006.04. This trade represents a 3.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,832 shares of company stock valued at $11,534,308 over the last 90 days. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

Shares of DASH opened at $192.35 on Friday. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a market cap of $83.81 billion, a PE ratio of 91.60 and a beta of 1.78. 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 stock has a 50-day moving average price of $167.31 and a 200-day moving average price of $179.18.

DoorDash (NASDAQ:DASH) last released its quarterly 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. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, equities analysts forecast that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

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.