Swedbank AB Raises Holdings in DoorDash, Inc. (NASDAQ:DASH)

Swedbank AB lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.0% in the 3rd quarter, Holdings Channel reports. The fund owned 165,516 shares of the company’s stock after buying an additional 1,588 shares during the quarter. Swedbank AB’s holdings in DoorDash were worth $23,624,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in DASH. Rakuten Securities Inc. lifted its holdings in 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 purchasing an additional 130 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of DoorDash by 82.0% in 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 during the period. Headlands Technologies LLC purchased a new stake in shares of DoorDash during the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc boosted its holdings in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the period. Finally, Quest Partners LLC grew its stake in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $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.

Insider Buying and Selling

In other news, General Counsel Tia Sherringham sold 12,950 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $2,201,241.00. Following the sale, the general counsel now directly owns 145,917 shares of the company’s stock, valued at $24,802,971.66. This represents a 8.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley Tang sold 1,855 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the transaction, the director now directly owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 547,753 shares of company stock valued at $84,544,996 over the last three months. Corporate insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Benchmark increased their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley raised their target price on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Raymond James began coverage on DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 target price for the company. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock 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 report on Friday, October 4th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Stock Up 1.0 %

Shares of DoorDash stock opened at $179.10 on Tuesday. The business has a 50 day moving average of $154.57 and a 200 day moving average of $129.52. DoorDash, Inc. has a 52 week low of $92.56 and a 52 week high of $179.13. The company has a market cap of $74.40 billion, a PE ratio of -398.00, a P/E/G ratio of 13.63 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.19) EPS. On average, research analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current 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.