Andra AP fonden Reduces Stock Holdings in DoorDash, Inc. $DASH

Andra AP fonden cut its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 76.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,380 shares of the company's stock after selling 117,920 shares during the period. Andra AP fonden's holdings in DoorDash were worth $6,713,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DASH. SC US Ttgp LTD. raised its holdings in shares of DoorDash by 1.6% in the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company's stock valued at $7,176,387,000 after buying an additional 506,358 shares during the period. Geode Capital Management LLC grew its holdings in shares of DoorDash by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 8,867,615 shares of the company's stock valued at $2,000,371,000 after purchasing an additional 252,471 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of DoorDash by 8.4% in the fourth quarter. Janus Henderson Group PLC now owns 5,536,599 shares of the company's stock valued at $1,247,961,000 after purchasing an additional 427,031 shares in the last quarter. Norges Bank purchased a new stake in DoorDash during the 4th quarter worth approximately $1,093,650,000. Finally, Sands Capital Management LLC increased its stake in DoorDash by 11.8% during the 4th quarter. Sands Capital Management LLC now owns 4,496,607 shares of the company's stock worth $1,018,392,000 after buying an additional 473,316 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 3,767 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $230.00, for a total value of $866,410.00. Following the completion of the transaction, the chief executive officer directly owned 1,500 shares of the company's stock, valued at $345,000. This trade represents a 71.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 15,000 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $228.31, for a total value of $3,424,650.00. 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 396,737 shares of company stock worth $86,572,600. 44.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. UBS Group reaffirmed a "buy" rating and set a $295.00 price objective on shares of DoorDash in a research report on Tuesday, September 8th. Cantor Fitzgerald lifted their target price on DoorDash from $230.00 to $260.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. TD Cowen boosted their target price on DoorDash from $225.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Piper Sandler restated a "neutral" rating and set a $220.00 price target (up from $205.00) on shares of DoorDash in a report on Thursday, August 6th. Finally, Wells Fargo & Company increased their price target on DoorDash from $199.00 to $225.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $257.47.

DoorDash Stock Down 1.5%

DASH opened at $189.27 on Thursday. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The business has a 50 day moving average price of $205.94 and a two-hundred day moving average price of $180.88. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a market cap of $82.01 billion, a PE ratio of 99.09 and a beta of 1.79.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter last year, the company earned $0.65 EPS. DoorDash's revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, research analysts anticipate that DoorDash, Inc. will post 2.51 EPS for the current year.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: New retail-insights platform: DoorDash introduced a service giving brands purchase-based consumer signals and shelf-scan data. The offering could deepen relationships with retailers and create additional data and advertising opportunities beyond delivery. DoorDash hands brands live shelf data and retail insights
• Neutral Sentiment: Insider sale appears limited: Chief Business Officer Keith Yandell sold 2,184 shares worth approximately $438,460 under a pre-arranged Rule 10b5-1 plan. He retained more than 120,000 shares, reducing the transaction’s significance as a bearish signal. DoorDash insider sale
• Negative Sentiment: $131.5 million New York settlement: DoorDash agreed to resolve a city investigation into underpaid or delayed worker compensation, including $12.3 million in direct payments to drivers. The settlement creates an immediate cost and may increase scrutiny of gig-worker pay practices in other markets. DoorDash reaches New York settlement over worker pay
• Negative Sentiment: Momentum and valuation concerns: DoorDash’s recent decline has been substantially worse than comparable groups. With the stock trading below its 50-day average and at roughly 99 times earnings, investors may be demanding stronger execution despite 35.6% year-over-year revenue growth and a recent EPS shortfall. DoorDash stock decline analysis
• Negative Sentiment: Driver-safety and reputational risk: Reports concerning a DoorDash driver shot while making a delivery could intensify scrutiny of worker safety and the company’s responsibilities toward contractors, although no material financial impact has been disclosed. New York delivery-app worker pay and safety report

DoorDash Company Profile

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.

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