Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in DoorDash, Inc. (NASDAQ:DASH)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 28.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,187 shares of the company’s stock after buying an additional 30,485 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in DoorDash were worth $12,958,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in DoorDash by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 27,043,520 shares of the company’s stock valued at $2,149,149,000 after acquiring an additional 781,861 shares during the last quarter. Baillie Gifford & Co. boosted its stake in DoorDash by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after buying an additional 772,977 shares during the last quarter. Northern Trust Corp grew its holdings in DoorDash by 7.2% in the 3rd quarter. Northern Trust Corp now owns 1,830,630 shares of the company’s stock valued at $145,480,000 after buying an additional 123,449 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of DoorDash by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,176,571 shares of the company’s stock worth $116,351,000 after acquiring an additional 77,863 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of DoorDash by 1,725.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after acquiring an additional 1,052,198 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 3,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $435,750.00. Following the sale, the insider now owns 161,102 shares of the company’s stock, valued at approximately $20,057,199. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DoorDash news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $139.09, for a total transaction of $9,319,030.00. Following the transaction, the director now directly owns 36,482 shares of the company’s stock, valued at approximately $5,074,281.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith Yandell sold 3,500 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $435,750.00. Following the sale, the insider now owns 161,102 shares of the company’s stock, valued at approximately $20,057,199. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,698 shares of company stock valued at $56,026,819. 9.59% of the stock is currently owned by corporate insiders.

DoorDash Stock Up 1.1 %

Shares of NASDAQ:DASH opened at $117.43 on Friday. DoorDash, Inc. has a fifty-two week low of $62.83 and a fifty-two week high of $143.34. The firm’s 50 day moving average price is $129.45 and its 200 day moving average price is $113.07.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.41) EPS. Analysts expect that DoorDash, Inc. will post 0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

DASH has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of DoorDash from $108.00 to $111.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. The Goldman Sachs Group lifted their price target on shares of DoorDash from $109.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Morgan Stanley upgraded DoorDash from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $135.00 to $145.00 in a research report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and issued a $137.00 target price on shares of DoorDash in a research report on Thursday, May 2nd. Finally, Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of DoorDash in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.28.

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.