Daiwa Securities Group Inc. Buys 26,422 Shares of DoorDash, Inc. (NASDAQ:DASH)

Daiwa Securities Group Inc. lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 67.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 65,488 shares of the company’s stock after acquiring an additional 26,422 shares during the quarter. Daiwa Securities Group Inc.’s holdings in DoorDash were worth $6,476,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC raised its position in DoorDash by 23.3% during the fourth quarter. SVB Wealth LLC now owns 12,381 shares of the company’s stock valued at $1,224,000 after purchasing an additional 2,338 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of DoorDash by 38.1% during the 4th quarter. Mackenzie Financial Corp now owns 15,219 shares of the company’s stock valued at $1,505,000 after buying an additional 4,197 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of DoorDash during the 4th quarter valued at about $941,000. Lecap Asset Management Ltd. bought a new stake in DoorDash in the 4th quarter worth approximately $516,000. Finally, Capital Advisors Inc. OK boosted its stake in DoorDash by 16.0% in the fourth quarter. Capital Advisors Inc. OK now owns 174,853 shares of the company’s stock worth $17,291,000 after buying an additional 24,087 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Down 0.6 %

Shares of NASDAQ:DASH opened at $130.10 on Friday. The stock has a fifty day simple moving average of $130.22 and a two-hundred day simple moving average of $106.42. The stock has a market capitalization of $52.56 billion, a price-to-earnings ratio of -90.98, a PEG ratio of 15.34 and a beta of 1.79. DoorDash, Inc. has a 12-month low of $56.59 and a 12-month high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) EPS 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 business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the business earned ($0.63) earnings per share. The company’s quarterly revenue was up 26.7% on a year-over-year basis. As a group, equities research analysts predict that DoorDash, Inc. will post 0.2 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on DASH shares. JMP Securities lifted their price target on shares of DoorDash from $130.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 27th. Royal Bank of Canada upgraded shares of DoorDash from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $130.00 to $175.00 in a research report on Monday, March 4th. Wedbush upped their price target on shares of DoorDash from $92.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. The Goldman Sachs Group raised their price objective on DoorDash from $109.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Finally, Loop Capital began coverage on DoorDash in a research note on Friday. They issued a “buy” rating and a $170.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.52.

Insider Activity

In related news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other DoorDash news, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total value of $76,797.00. Following the completion of the transaction, the director now directly owns 71,514 shares in the company, valued at $7,845,800.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The disclosure for this sale can be found here. Insiders have sold 497,282 shares of company stock valued at $64,885,042 in the last ninety days. 9.59% of the stock is currently owned by company insiders.

DoorDash Company 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.