KLP Kapitalforvaltning AS Acquires 10,740 Shares of DoorDash, Inc. $DASH

KLP Kapitalforvaltning AS boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,240 shares of the company’s stock after purchasing an additional 10,740 shares during the period. KLP Kapitalforvaltning AS’s holdings in DoorDash were worth $31,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DASH. Brighton Jones LLC lifted its stake in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of DoorDash by 21.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock valued at $314,000 after acquiring an additional 303 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of DoorDash by 3.6% in the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock valued at $1,486,000 after acquiring an additional 285 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of DoorDash by 92.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in DoorDash during the 2nd quarter worth $222,000. 90.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America upped their target price on DoorDash from $260.00 to $272.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. UBS Group lowered their target price on DoorDash from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. Needham & Company LLC lowered their target price on DoorDash from $275.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, February 19th. KeyCorp upped their target price on DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $275.00 target price on shares of DoorDash in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.32.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 10,000 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $188.34, for a total value of $1,883,400.00. Following the completion of the sale, the chief operating officer directly owned 843,678 shares in the company, valued at $158,898,314.52. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $176.61, for a total value of $220,762.50. Following the completion of the sale, the director owned 31,002 shares of the company’s stock, valued at $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 89,406 shares of company stock worth $16,639,624 over the last three months. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

NASDAQ DASH opened at $182.27 on Thursday. The company has a market capitalization of $79.18 billion, a price-to-earnings ratio of 85.98 and a beta of 1.93. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The stock has a fifty day simple moving average of $166.12 and a 200 day simple moving average of $203.90. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. Sell-side analysts expect that DoorDash, Inc. will post 2.51 EPS for the current 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.