Lansforsakringar Fondforvaltning AB publ lessened its holdings in shares of DoorDash, Inc. (NASDAQ:DASH – Free Report) by 3.1% during the 1st quarter, HoldingsChannel reports. The fund owned 118,402 shares of the company’s stock after selling 3,765 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in DoorDash were worth $17,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the period. Integrated Wealth Concepts LLC raised its stake in DoorDash by 21.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after acquiring an additional 303 shares during the period. Empowered Funds LLC lifted its holdings in DoorDash by 3.6% during the first quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock valued at $1,486,000 after purchasing an additional 285 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in DoorDash by 92.9% during the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of DoorDash in the second quarter worth approximately $222,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on DASH. Moffett Nathanson set a $276.00 price objective on shares of DoorDash in a research note on Wednesday, April 15th. TD Cowen assumed coverage on shares of DoorDash in a research note on Monday, April 27th. They set a “buy” rating and a $225.00 target price on the stock. Wells Fargo & Company upped their target price on shares of DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Stifel Nicolaus cut their price target on DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 13th. Finally, Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $256.11.
Insider Activity at DoorDash
In related news, Director Andy Fang sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. The trade was a 2.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 64,140 shares of company stock valued at $10,327,989 in the last three months. Company insiders own 5.83% of the company’s stock.
DoorDash Stock Performance
DASH opened at $184.53 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $165.62 and its 200-day moving average price is $180.97. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The company has a market cap of $80.40 billion, a P/E ratio of 87.87 and a beta of 1.83.
DoorDash (NASDAQ:DASH – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.
DoorDash Profile
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.
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