Handelsbanken Fonder AB Grows Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Handelsbanken Fonder AB raised its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 237.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,142 shares of the company’s stock after purchasing an additional 97,901 shares during the period. Handelsbanken Fonder AB’s holdings in DoorDash were worth $13,765,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DASH. Assenagon Asset Management S.A. raised its position in DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after purchasing an additional 1,052,198 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of DoorDash by 3.0% in the third quarter. Vanguard Group Inc. now owns 27,043,520 shares of the company’s stock worth $2,149,149,000 after buying an additional 781,861 shares during the period. Baillie Gifford & Co. increased its holdings in shares of DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after buying an additional 772,977 shares during the period. Invesco Ltd. increased its holdings in shares of DoorDash by 169.4% in the third quarter. Invesco Ltd. now owns 999,612 shares of the company’s stock worth $79,439,000 after buying an additional 628,561 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of DoorDash in the third quarter worth about $48,965,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In related news, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $124.50, for a total value of $124,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,207 shares in the company, valued at approximately $11,479,771.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other DoorDash news, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $104.89, for a total transaction of $367,115.00. Following the completion of the sale, the insider now directly owns 179,350 shares in the company, valued at approximately $18,812,021.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the sale, the chief accounting officer now owns 92,207 shares of the company’s stock, valued at $11,479,771.50. The disclosure for this sale can be found here. Insiders sold a total of 497,282 shares of company stock worth $64,885,042 in the last three months. Insiders own 9.59% of the company’s stock.

DoorDash Stock Performance

DASH stock opened at $129.36 on Wednesday. The firm has a 50 day moving average price of $130.81 and a 200-day moving average price of $107.93. DoorDash, Inc. has a 52-week low of $56.59 and a 52-week high of $143.34. The firm has a market capitalization of $52.26 billion, a price-to-earnings ratio of -90.46, a PEG ratio of 14.15 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business posted ($0.63) earnings per share. DoorDash’s revenue for the quarter was up 26.7% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash, Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DASH shares. Wells Fargo & Company lifted their price objective on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Oppenheimer raised their target price on DoorDash from $110.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Morgan Stanley raised DoorDash from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $135.00 to $145.00 in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft raised their target price on DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, UBS Group cut their target price on DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.52.

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.