Handelsbanken Fonder AB Trims Position in DoorDash, Inc. $DASH

Handelsbanken Fonder AB reduced its holdings in DoorDash, Inc. (NASDAQ:DASH) by 4.5% during the 4th quarter, Holdings Channel reports. The fund owned 156,728 shares of the company’s stock after selling 7,334 shares during the period. Handelsbanken Fonder AB’s holdings in DoorDash were worth $35,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Resona Asset Management Co. Ltd. raised its holdings in shares of DoorDash by 2.9% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 114,047 shares of the company’s stock worth $25,921,000 after purchasing an additional 3,229 shares during the last quarter. Profund Advisors LLC raised its holdings in shares of DoorDash by 3.6% during the fourth quarter. Profund Advisors LLC now owns 51,361 shares of the company’s stock worth $11,632,000 after purchasing an additional 1,780 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of DoorDash by 40.1% during the fourth quarter. ProShare Advisors LLC now owns 703,161 shares of the company’s stock worth $159,252,000 after purchasing an additional 201,326 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of DoorDash by 8.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,050 shares of the company’s stock worth $1,597,000 after purchasing an additional 527 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of DoorDash by 17.7% during the fourth quarter. TD Private Client Wealth LLC now owns 2,015 shares of the company’s stock worth $456,000 after purchasing an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. KeyCorp raised their target price on shares of DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. DA Davidson reduced their target price on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Oppenheimer cut their target price on shares of DoorDash from $280.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Cantor Fitzgerald cut their target price on shares of DoorDash from $285.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Finally, TD Cowen assumed coverage on shares of DoorDash in a report on Monday, April 27th. They set a “buy” rating and a $225.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $259.58.

DoorDash Price Performance

NASDAQ:DASH opened at $154.65 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $67.38 billion, a price-to-earnings ratio of 73.64 and a beta of 1.87. The company has a 50 day moving average price of $163.68 and a 200-day moving average price of $191.17. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Equities research analysts forecast that DoorDash, Inc. will post 2.45 EPS for the current year.

Insider Buying and Selling

In related news, Director Stanley Tang sold 21,433 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the completion of the sale, the director owned 19,279 shares of the company’s stock, valued at approximately $2,891,850. The trade was a 52.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the sale, the director directly owned 31,002 shares of the company’s stock, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 42,683 shares of company stock valued at $6,908,813. 5.83% of the stock is owned by corporate insiders.

About DoorDash

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.