Nikko Asset Management Americas Inc. Buys Shares of 160,710 DoorDash, Inc. $DASH

Nikko Asset Management Americas Inc. bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 160,710 shares of the company’s stock, valued at approximately $39,610,000.

Several other hedge funds have also made changes to their positions in the stock. GFG Capital LLC bought a new position in DoorDash during the 2nd quarter worth $30,000. Saudi Central Bank bought a new stake in DoorDash in the first quarter valued at $25,000. WPG Advisers LLC acquired a new position in shares of DoorDash during the first quarter valued at $26,000. Pacific Center for Financial Services bought a new position in shares of DoorDash during the first quarter worth about $27,000. Finally, NewSquare Capital LLC grew its position in shares of DoorDash by 610.3% during the second quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $51,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 1.3%

DASH opened at $227.49 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $98.05 billion, a PE ratio of 115.48 and a beta of 1.72. The stock’s fifty day moving average is $232.77 and its 200-day moving average is $239.85. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. DoorDash’s revenue was up 27.3% on a year-over-year basis. On average, equities analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Morgan Stanley lifted their price target on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Truist Financial increased their price objective on DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Benchmark raised their target price on DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Wedbush upgraded DoorDash from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $160.00 to $260.00 in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $275.46.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 288,410 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the sale, the chief executive officer owned 232,040 shares of the company’s stock, valued at $45,489,121.60. The trade was a 55.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 696,230 shares of company stock worth $156,736,003. 5.83% of the stock is owned by 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.