Meiji Yasuda Asset Management Co Ltd. Acquires 584 Shares of DoorDash, Inc. $DASH

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 12.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,094 shares of the company’s stock after purchasing an additional 584 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in DoorDash were worth $931,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of DASH. Saudi Central Bank acquired a new stake in DoorDash during the first quarter worth approximately $25,000. WPG Advisers LLC acquired a new stake in DoorDash during the first quarter worth approximately $26,000. Pacific Center for Financial Services acquired a new stake in DoorDash during the first quarter worth approximately $27,000. Harbour Investments Inc. lifted its position in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after acquiring an additional 70 shares during the last quarter. Finally, SouthState Corp lifted its position in DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company’s stock worth $38,000 after acquiring an additional 183 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $260.00 price objective (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Needham & Company LLC set a $300.00 price objective on shares of DoorDash and gave the stock a “buy” rating in a research report on Thursday, August 7th. Citigroup reiterated an “outperform” rating on shares of DoorDash in a research report on Thursday, August 7th. Stifel Nicolaus lifted their price target on shares of DoorDash from $214.00 to $239.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein lifted their price target on shares of DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $264.65.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $256.53 on Wednesday. The company’s 50 day simple moving average is $247.03 and its 200 day simple moving average is $214.74. The stock has a market capitalization of $109.59 billion, a price-to-earnings ratio of 142.52 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 1 year low of $122.73 and a 1 year high of $278.15.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.38) earnings per share. As a group, research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares of the company’s stock, valued at $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,019,042 shares of company stock valued at $248,122,219. 5.83% of the stock is 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.