Livforsakringsbolaget Skandia Omsesidigt Boosts Stake in DoorDash, Inc. (NASDAQ:DASH)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 321.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,375 shares of the company’s stock after acquiring an additional 1,811 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in DoorDash were worth $339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DASH. Private Advisory Group LLC bought a new stake in DoorDash during the third quarter valued at approximately $477,000. Wedmont Private Capital raised its position in shares of DoorDash by 39.1% during the 3rd quarter. Wedmont Private Capital now owns 5,363 shares of the company’s stock valued at $762,000 after buying an additional 1,507 shares in the last quarter. CWM LLC raised its position in shares of DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after buying an additional 5,273 shares in the last quarter. Alpha Cubed Investments LLC bought a new stake in shares of DoorDash during the 3rd quarter worth $214,000. Finally, Fulton Bank N.A. increased its stake in DoorDash by 5.1% in the third quarter. Fulton Bank N.A. now owns 3,007 shares of the company’s stock valued at $429,000 after acquiring an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of several recent research reports. Needham & Company LLC increased their price objective on DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Piper Sandler reiterated a “neutral” rating and set a $125.00 price target (up from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. Wolfe Research began coverage on shares of DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price objective for the company. Morgan Stanley increased their target price on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Susquehanna boosted their price target on shares of DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.91.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the sale, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at $44,492,660.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total value of $746,480.00. Following the transaction, the chief financial officer now owns 417,223 shares in the company, valued at $44,492,660.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total transaction of $6,685,709.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,337 shares of company stock valued at $23,024,299. Corporate insiders own 7.92% of the company’s stock.

DoorDash Trading Up 3.4 %

DASH opened at $149.44 on Monday. The company has a market cap of $61.50 billion, a price-to-earnings ratio of -146.51, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. The stock has a fifty day simple moving average of $132.50 and a two-hundred day simple moving average of $122.41. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $150.00.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the business earned ($0.44) earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that DoorDash, Inc. will post 0.01 EPS for the current year.

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.