DoorDash, Inc. $DASH Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 13.8% in the third quarter, Holdings Channel.com reports. The fund owned 2,220,227 shares of the company’s stock after selling 353,955 shares during the period. Nordea Investment Management AB’s holdings in DoorDash were worth $598,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DASH. Norges Bank purchased a new position in shares of DoorDash during the 2nd quarter worth approximately $1,185,576,000. Vanguard Group Inc. lifted its stake in DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after purchasing an additional 1,792,799 shares in the last quarter. Scge Management L.P. acquired a new position in DoorDash during the second quarter worth $267,463,000. Ninety One UK Ltd purchased a new position in shares of DoorDash during the third quarter worth $259,154,000. Finally, AQR Capital Management LLC grew its stake in shares of DoorDash by 43.5% in the second quarter. AQR Capital Management LLC now owns 2,633,971 shares of the company’s stock valued at $643,084,000 after buying an additional 797,849 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Down 0.3%

Shares of DoorDash stock opened at $214.87 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a 52-week low of $155.40 and a 52-week high of $285.50. The company has a market capitalization of $92.61 billion, a P/E ratio of 109.07 and a beta of 1.70. The company has a 50 day moving average of $217.16 and a 200 day moving average of $241.22.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. DoorDash’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. As a group, research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DASH shares. Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. Benchmark increased their price target on shares of DoorDash from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wolfe Research set a $270.00 price objective on shares of DoorDash in a research note on Monday, January 5th. Argus cut their target price on shares of DoorDash from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Finally, Susquehanna reduced their target price on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.94.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 30,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $244.39, for a total value of $7,331,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $205.07, for a total value of $9,312,228.70. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 617,043 shares of company stock worth $130,033,258. Corporate insiders own 5.83% of the company’s stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.