Daiwa Securities Group Inc. Purchases 5,784 Shares of DoorDash, Inc. (NASDAQ:DASH)

Daiwa Securities Group Inc. lifted its position in DoorDash, Inc. (NASDAQ:DASH) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,204 shares of the company’s stock after buying an additional 5,784 shares during the period. Daiwa Securities Group Inc.’s holdings in DoorDash were worth $9,164,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. raised its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of DoorDash in the second quarter worth $32,000. Meeder Asset Management Inc. lifted its holdings in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on DASH. Truist Financial upped their target price on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Evercore ISI lifted their target price on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Mizuho boosted their target price on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Benchmark raised their price target on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.03.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $179.10 on Tuesday. The firm has a market cap of $74.40 billion, a price-to-earnings ratio of -398.00, a P/E/G ratio of 13.63 and a beta of 1.67. The firm has a fifty day moving average price of $154.57 and a 200 day moving average price of $129.52. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $179.13.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) earnings per share. As a group, research analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stanley Tang sold 1,855 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $315,312.90. Following the completion of the transaction, the director now owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 547,753 shares of company stock worth $84,544,996 in the last quarter. 7.92% of the stock is owned by corporate insiders.

About DoorDash

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.