Andra AP fonden Boosts Stake in DoorDash, Inc. $DASH

Key Points

• Andra AP fonden increased its DoorDash stake by 44% in the first quarter, adding 47,160 shares and bringing its total to 154,300 shares valued at about $23.2 million.
• Institutional ownership in DoorDash remains very high, with 90.64% of shares held by institutions and hedge funds; several large investors also recently raised their positions.
• DoorDash reported Q1 EPS of $0.42, topping estimates, while revenue rose 33.1% year over year to $4.04 billion, even though it came in slightly below analyst expectations.

Andra AP fonden grew its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 44.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,300 shares of the company's stock after purchasing an additional 47,160 shares during the period. Andra AP fonden's holdings in DoorDash were worth $23,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in DoorDash in the 4th quarter valued at about $1,093,650,000. Wellington Management Group LLP boosted its stake in DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company's stock worth $1,241,494,000 after buying an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock valued at $3,161,234,000 after acquiring an additional 3,447,754 shares during the last quarter. Coatue Management LLC increased its position in shares of DoorDash by 77.8% during the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company's stock valued at $988,668,000 after acquiring an additional 1,910,488 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of DoorDash in the 4th quarter valued at approximately $372,128,000. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Price Performance

Shares of DASH opened at $189.02 on Tuesday. The company has a market cap of $82.36 billion, a P/E ratio of 90.01 and a beta of 1.78. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm's 50 day moving average price is $170.39 and its 200 day moving average price is $177.02.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm's revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. On average, research analysts forecast that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 19,095 shares of the business's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the transaction, the chief financial officer directly owned 252,443 shares of the company's stock, valued at $47,469,381.72. The trade was a 7.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total value of $4,421,268.75. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 74,927 shares of company stock valued at $13,241,532. 5.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

DASH has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of DoorDash from $215.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 13th. BTIG Research decreased their price target on DoorDash from $280.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, June 12th. The Goldman Sachs Group set a $280.00 price target on DoorDash in a research report on Thursday, May 7th. Wedbush initiated coverage on DoorDash in a research note on Thursday, July 16th. They issued a "neutral" rating and a $205.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $265.00 price objective on shares of DoorDash in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and an average target price of $252.89.

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.

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