Sumitomo Mitsui Trust Holdings Inc. Sells 15,202 Shares of DoorDash, Inc. (NASDAQ:DASH)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in DoorDash, Inc. (NASDAQ:DASH) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 642,060 shares of the company’s stock after selling 15,202 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.16% of DoorDash worth $63,493,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. SJS Investment Consulting Inc. increased its stake in shares of DoorDash by 26.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock valued at $46,000 after acquiring an additional 98 shares in the last quarter. Westside Investment Management Inc. increased its stake in DoorDash by 18.2% during the 4th quarter. Westside Investment Management Inc. now owns 650 shares of the company’s stock valued at $64,000 after purchasing an additional 100 shares in the last quarter. National Bank of Canada FI increased its stake in DoorDash by 13.1% during the 3rd quarter. National Bank of Canada FI now owns 1,081 shares of the company’s stock valued at $86,000 after purchasing an additional 125 shares in the last quarter. Mackenzie Financial Corp increased its stake in DoorDash by 1.3% during the 3rd quarter. Mackenzie Financial Corp now owns 11,022 shares of the company’s stock valued at $851,000 after purchasing an additional 145 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in DoorDash by 5.2% during the 3rd quarter. Yousif Capital Management LLC now owns 2,920 shares of the company’s stock valued at $232,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Activity

In other news, CFO Ravi Inukonda sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $109.73, for a total transaction of $548,650.00. Following the completion of the transaction, the chief financial officer now directly owns 414,738 shares in the company, valued at $45,509,200.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Ravi Inukonda sold 5,000 shares of DoorDash stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $109.73, for a total value of $548,650.00. Following the completion of the sale, the chief financial officer now directly owns 414,738 shares in the company, valued at approximately $45,509,200.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total value of $76,797.00. Following the completion of the sale, the director now owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The disclosure for this sale can be found here. Insiders sold 497,282 shares of company stock worth $64,885,042 over the last three months. 9.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on DASH. JMP Securities boosted their price target on shares of DoorDash from $130.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 27th. BMO Capital Markets boosted their price target on shares of DoorDash from $120.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Royal Bank of Canada upgraded shares of DoorDash from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $130.00 to $175.00 in a research note on Monday, March 4th. Morgan Stanley raised shares of DoorDash from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $135.00 to $145.00 in a report on Thursday, February 22nd. Finally, Piper Sandler raised shares of DoorDash from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $53.00 to $127.00 in a report on Friday, March 15th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $128.88.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $130.10 on Friday. DoorDash, Inc. has a 1-year low of $56.59 and a 1-year high of $143.34. The business has a fifty day moving average price of $130.22 and a 200-day moving average price of $106.42. The company has a market capitalization of $52.56 billion, a PE ratio of -90.98, a PEG ratio of 15.69 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the business earned ($0.63) earnings per share. DoorDash’s revenue was up 26.7% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash, Inc. will post 0.2 earnings per share for the current fiscal year.

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.