Forsta AP Fonden Grows Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Forsta AP Fonden increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,200 shares of the company’s stock after buying an additional 14,700 shares during the period. Forsta AP Fonden’s holdings in DoorDash were worth $13,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DASH. The Manufacturers Life Insurance Company boosted its holdings in DoorDash by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 65,706 shares of the company’s stock worth $7,146,000 after buying an additional 7,853 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in DoorDash by 4.6% during the second quarter. Mackenzie Financial Corp now owns 18,073 shares of the company’s stock worth $1,966,000 after buying an additional 789 shares in the last quarter. Algert Global LLC purchased a new stake in DoorDash during the second quarter worth about $338,000. Quarry LP purchased a new stake in DoorDash during the second quarter worth about $60,000. Finally, Cetera Investment Advisers boosted its holdings in DoorDash by 7.2% during the second quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock worth $1,278,000 after buying an additional 788 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. This trade represents a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith Yandell sold 7,980 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the transaction, the insider now owns 124,221 shares in the company, valued at $21,115,085.58. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,040,758 shares of company stock valued at $181,434,201. Corporate insiders own 7.92% of the company’s stock.

DoorDash Stock Up 0.7 %

DoorDash stock opened at $185.78 on Thursday. The firm has a fifty day moving average of $174.76 and a 200-day moving average of $150.11. The firm has a market capitalization of $77.17 billion, a P/E ratio of -412.84, a PEG ratio of 1.85 and a beta of 1.71. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $186.79.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the business earned ($0.19) EPS. On average, research analysts expect that DoorDash, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on DASH shares. Susquehanna upped their price target on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. Needham & Company LLC upped their price target on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. UBS Group upped their price target on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Barclays upped their price target on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $178.18.

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.