Avanza Fonder AB Sells 3,828 Shares of DoorDash, Inc. (NASDAQ:DASH)

Avanza Fonder AB cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 13.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,934 shares of the company’s stock after selling 3,828 shares during the period. Avanza Fonder AB’s holdings in DoorDash were worth $4,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of DASH. Norges Bank acquired a new stake in DoorDash in the 4th quarter worth approximately $597,443,000. Capital World Investors boosted its stake in DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. lifted its stake in DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after acquiring an additional 949,414 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in DoorDash during the 4th quarter valued at approximately $146,094,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the sale, the director now owns 18,285 shares of the company’s stock, valued at $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the sale, the director now directly owns 22,545 shares of the company’s stock, valued at $4,903,988.40. The trade was a 57.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 298,030 shares of company stock valued at $59,433,406. 5.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DASH has been the subject of several research reports. KeyCorp decreased their price objective on shares of DoorDash from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. FBN Securities initiated coverage on shares of DoorDash in a research note on Friday, March 28th. They set an “outperform” rating and a $230.00 price objective for the company. Needham & Company LLC lifted their price objective on shares of DoorDash from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Truist Financial lifted their price objective on shares of DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $209.62.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $214.97 on Wednesday. The firm has a market cap of $91.09 billion, a PE ratio of 796.19 and a beta of 1.67. The firm has a fifty day moving average of $193.35 and a 200 day moving average of $187.04. DoorDash, Inc. has a one year low of $99.32 and a one year high of $220.88.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) EPS. On average, equities analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

DoorDash Company 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.