Swedbank AB Has $23.62 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Swedbank AB lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 165,516 shares of the company’s stock after purchasing an additional 1,588 shares during the period. Swedbank AB’s holdings in DoorDash were worth $23,624,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Rakuten Securities Inc. raised its position in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $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% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of DoorDash in the second quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the last quarter. Finally, Quest Partners LLC increased its position in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Up 1.0 %

Shares of NASDAQ:DASH opened at $179.10 on Tuesday. The stock has a market cap of $74.40 billion, a PE ratio of -398.00, a price-to-earnings-growth ratio of 13.63 and a beta of 1.67. The stock’s fifty day simple moving average is $154.57 and its two-hundred day simple moving average is $129.52. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $179.13.

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. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the firm earned ($0.19) earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the transaction, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 547,753 shares of company stock valued at $84,544,996 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. 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 research report on Friday, October 18th. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective for the company in a research report on Wednesday, September 25th. Evercore ISI upped their target price on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets raised their target price on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

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.