Swedbank AB Purchases 1,588 Shares of DoorDash, Inc. (NASDAQ:DASH)

Swedbank AB lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.0% during the third quarter, HoldingsChannel.com reports. The firm owned 165,516 shares of the company’s stock after purchasing an additional 1,588 shares during the quarter. Swedbank AB’s holdings in DoorDash were worth $23,624,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new position in DoorDash during the first quarter worth about $2,969,000. Paragon Capital Management Inc. bought a new position in DoorDash during the 2nd quarter valued at approximately $1,309,000. CWM LLC raised its position in 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 purchasing an additional 5,273 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in DoorDash by 9.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company’s stock valued at $2,807,000 after purchasing an additional 2,125 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of DoorDash by 7.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock worth $94,997,000 after acquiring an additional 47,725 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Up 0.7 %

Shares of DASH stock opened at $149.86 on Thursday. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $150.29. The stock’s 50-day moving average price is $134.16 and its 200-day moving average price is $122.77. The stock has a market capitalization of $61.28 billion, a price-to-earnings ratio of -138.76, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.44) EPS. As a group, research analysts predict that DoorDash, Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DASH shares. Needham & Company LLC increased their target price on DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Truist Financial increased their target price on DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, September 19th. Finally, Evercore ISI raised their target price on DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $146.91.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,710,274.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,710,274.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the transaction, the chief financial officer now owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 277,337 shares of company stock worth $37,703,799. Corporate insiders own 7.92% of the company’s stock.

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.