Danica Pension Livsforsikringsaktieselskab Invests $7.90 Million in DoorDash, Inc. $DASH

Danica Pension Livsforsikringsaktieselskab acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 52,622 shares of the company’s stock, valued at approximately $7,901,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ABN Amro Investment Solutions lifted its stake in DoorDash by 11.9% during the first quarter. ABN Amro Investment Solutions now owns 22,683 shares of the company’s stock worth $3,406,000 after purchasing an additional 2,414 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in DoorDash in the first quarter valued at approximately $91,000. Andra AP fonden raised its holdings in DoorDash by 44.0% during the first quarter. Andra AP fonden now owns 154,300 shares of the company’s stock worth $23,168,000 after purchasing an additional 47,160 shares in the last quarter. Wilkerson Advisory Group LLC lifted its position in shares of DoorDash by 1,303.8% during the 1st quarter. Wilkerson Advisory Group LLC now owns 744 shares of the company’s stock worth $112,000 after buying an additional 691 shares during the last quarter. Finally, Summit Global Investments boosted its holdings in shares of DoorDash by 7.9% in the 1st quarter. Summit Global Investments now owns 2,295 shares of the company’s stock valued at $345,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DASH shares. Zacks Research lowered shares of DoorDash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Needham & Company LLC reissued a “buy” rating and set a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Truist Financial dropped their price objective on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. KeyCorp decreased their target price on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

Insiders Place Their Bets

In related news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 582 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $177.06, for a total transaction of $103,048.92. Following the completion of the sale, the director owned 31,156 shares of the company’s stock, valued at approximately $5,516,481.36. The trade was a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 74,927 shares of company stock valued at $13,241,532. Corporate insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $177.73 on Thursday. The firm’s fifty day moving average price is $171.62 and its 200 day moving average price is $176.41. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. 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 $77.44 billion, a price-to-earnings ratio of 84.63 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. DoorDash’s quarterly revenue was up 33.1% on a year-over-year basis. On average, sell-side analysts expect that DoorDash, Inc. will post 2.39 EPS for the current year.

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.