Meiji Yasuda Asset Management Co Ltd. Boosts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,840 shares of the company’s stock after buying an additional 180 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in DoorDash were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. ORG Partners LLC lifted its stake in DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of DoorDash in the 2nd quarter valued at about $32,000. Meeder Asset Management Inc. boosted its position in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the period. Hollencrest Capital Management purchased a new position in shares of DoorDash during the first quarter worth approximately $42,000. Finally, Versant Capital Management Inc increased its holdings in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the sale, the chief financial officer now owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,769 shares of company stock worth $34,760,113. 7.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. DA Davidson raised their price objective on shares of DoorDash from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Benchmark reiterated a “buy” rating and issued a $150.00 target price on shares of DoorDash in a research note on Tuesday, July 30th. UBS Group increased their price target on DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Cantor Fitzgerald initiated coverage on shares of DoorDash in a research note on Thursday, September 5th. They issued an “overweight” rating and a $160.00 price objective on the stock. Finally, Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a research note on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $143.00.

DoorDash Trading Up 1.8 %

Shares of NASDAQ DASH opened at $139.72 on Friday. The company’s 50-day moving average price is $120.68 and its 200 day moving average price is $121.53. DoorDash, Inc. has a 52 week low of $69.90 and a 52 week high of $143.34. The stock has a market cap of $57.13 billion, a price-to-earnings ratio of -129.37, a PEG ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.44) earnings per share. As a group, research analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current year.

DoorDash 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.