DoorDash, Inc. $DASH Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,119,818 shares of the company’s stock after selling 30,929 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of DoorDash worth $205,543,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its position in DoorDash by 2,304.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock valued at $633,635,000 after acquiring an additional 3,308,512 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of DoorDash by 372.0% during the third quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after purchasing an additional 2,472,980 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of DoorDash by 40.2% in the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after purchasing an additional 2,225,954 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of DoorDash by 15,993.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company’s stock valued at $223,285,000 after purchasing an additional 1,208,919 shares during the last quarter. Finally, Temasek Holdings Private Ltd grew its stake in DoorDash by 49.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock worth $519,744,000 after buying an additional 1,145,078 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush upgraded DoorDash (DASH), while Cantor Fitzgerald reiterated its overweight rating, signaling continued confidence in the company’s growth outlook and market position. DoorDash upgraded at Wedbush DoorDash overweight rating reiterated at Cantor Fitzgerald
• Positive Sentiment: One analyst raised its DoorDash (DASH) price target to $340, suggesting substantial potential upside based on expectations for long-term growth and the company’s expanding delivery ecosystem. DoorDash price target raised to $340
• Positive Sentiment: DoorDash’s planned $17 billion acquisition of Instacart could broaden its customer base, services and subscription offering, potentially creating cost and cross-selling synergies. DoorDash acquires Instacart

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 72,367 shares of DoorDash stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the transaction, the director owned 10,361 shares of the company’s stock, valued at $2,332,882.76. This trade represents a 87.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Ravi Inukonda sold 19,505 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $4,303,193.10. Following the sale, the chief financial officer owned 232,938 shares in the company, valued at $51,390,781.56. This trade represents a 7.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 326,305 shares of company stock valued at $72,280,083. Corporate insiders own 44.90% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $240.00 price objective on shares of DoorDash in a research note on Friday. Citigroup reissued a “market outperform” rating on shares of DoorDash in a report on Friday. Guggenheim reaffirmed a “buy” rating and set a $255.00 price objective on shares of DoorDash in a research note on Wednesday, October 14th. Jefferies Financial Group lifted their price objective on DoorDash from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Truist Financial increased their price target on DoorDash from $336.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $249.88.

DoorDash Stock Performance

Shares of DASH opened at $178.99 on Monday. The company’s 50 day moving average price is $197.84 and its 200 day moving average price is $183.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $260.74. The company has a market capitalization of $77.56 billion, a PE ratio of 73.96 and a beta of 1.98.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.25. The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. DoorDash had a return on equity of 10.58% and a net margin of 6.23%. DoorDash’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. Research analysts expect that DoorDash, Inc. will post 2.64 EPS for the current fiscal year.

DoorDash Profile

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.