Forsta AP Fonden Has $17.92 Million Stock Holdings in DoorDash, Inc. $DASH

Forsta AP Fonden boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.2% in the second quarter, Holdings Channel reports. The firm owned 72,700 shares of the company’s stock after purchasing an additional 2,900 shares during the period. Forsta AP Fonden’s holdings in DoorDash were worth $17,921,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. AQR Capital Management LLC raised its stake in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after buying an additional 1,497,636 shares during the period. Invesco Ltd. lifted its holdings in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Nuveen LLC acquired a new position in DoorDash in the first quarter valued at about $211,415,000. Finally, Deutsche Bank AG increased its holdings in shares of DoorDash by 111.3% in the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock worth $367,313,000 after acquiring an additional 1,058,731 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Down 2.1%

DoorDash stock opened at $196.51 on Thursday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a 1-year low of $155.40 and a 1-year high of $285.50. The company has a fifty day simple moving average of $256.01 and a 200 day simple moving average of $237.98. The company has a market cap of $83.95 billion, a P/E ratio of 99.75 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. Research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Tony Xu sold 291,403 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. This trade represents a 55.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 825,277 shares of company stock valued at $205,015,591. 5.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DASH. Wedbush cut their price objective on DoorDash from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Needham & Company LLC set a $300.00 price target on shares of DoorDash and gave the company a “buy” rating in a research note on Thursday, August 7th. Cantor Fitzgerald lowered their price objective on shares of DoorDash from $330.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Barclays cut their price objective on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Finally, Wall Street Zen lowered shares of DoorDash from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $279.74.

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.