Forsta AP Fonden Purchases 10,100 Shares of DoorDash, Inc. (NASDAQ:DASH)

Forsta AP Fonden increased its position in DoorDash, Inc. (NASDAQ:DASH) by 18.6% in the 3rd quarter, Holdings Channel reports. The firm owned 64,500 shares of the company’s stock after buying an additional 10,100 shares during the quarter. Forsta AP Fonden’s holdings in DoorDash were worth $9,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in shares of DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after buying an additional 3,425,115 shares in the last quarter. Dragoneer Investment Group LLC raised its position in DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares in the last quarter. Canada Pension Plan Investment Board raised its position in DoorDash by 595.2% in the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after purchasing an additional 763,579 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after purchasing an additional 739,961 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after purchasing an additional 708,218 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of DASH stock opened at $153.88 on Monday. The stock has a market cap of $62.92 billion, a PE ratio of -142.48, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. The stock has a 50-day moving average of $137.76 and a 200-day moving average of $123.40. DoorDash, Inc. has a one year low of $69.90 and a one year high of $155.29.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) earnings per share. As a group, research analysts anticipate that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DASH. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a report on Friday, August 2nd. Benchmark increased their price objective on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Oppenheimer boosted their target price on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Jefferies Financial Group increased their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley lifted their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $151.00.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the completion of the transaction, the chief operating officer now directly owns 963,094 shares in the company, valued at approximately $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. Insiders have sold a total of 390,710 shares of company stock valued at $54,472,120 over the last 90 days. 7.92% of the stock is owned by company insiders.

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.