Dai ichi Life Insurance Company Ltd Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Dai ichi Life Insurance Company Ltd purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,639 shares of the company’s stock, valued at approximately $1,376,000.

Several other hedge funds also recently added to or reduced their stakes in DASH. Rakuten Securities Inc. boosted its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the period. Meeder Asset Management Inc. boosted its holdings in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the period. Headlands Technologies LLC bought a new position in DoorDash in the 2nd quarter valued at $32,000. Versant Capital Management Inc increased its stake in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares during the period. Finally, Quest Partners LLC lifted its position in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. KeyCorp boosted their price target on DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Thursday, September 19th. Finally, Wells Fargo & Company raised their price target on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.06.

Insider Activity

In other news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $50,651,994.72. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 553,262 shares of company stock valued at $85,515,902 in the last ninety days. Insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

Shares of DASH opened at $178.44 on Thursday. The stock has a 50-day moving average of $155.55 and a two-hundred day moving average of $129.97. The stock has a market cap of $74.12 billion, a P/E ratio of -396.53, a P/E/G ratio of 13.77 and a beta of 1.67. DoorDash, Inc. has a one year low of $92.58 and a one year high of $181.30.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s revenue was up 25.0% compared to the same quarter last year. Analysts predict that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

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.