Avanza Fonder AB Grows Stake in DoorDash, Inc. $DASH

Key Points

• Avanza Fonder AB increased its holdings in DoorDash, Inc. by 45.2% during Q2, owning a total of 34,741 shares valued at approximately $8.56 million.
• Several large institutional investors also expanded their positions in DoorDash, with AQR Capital Management raising its stake by a remarkable 442.5% during the first quarter.
• Wall Street analysts have generally positive outlooks, with target prices for DoorDash shares being raised significantly, with estimates ranging up to $360.00 from multiple firms.

Avanza Fonder AB grew its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 45.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,741 shares of the company's stock after purchasing an additional 10,807 shares during the quarter. Avanza Fonder AB's holdings in DoorDash were worth $8,564,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC raised its holdings in DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after acquiring an additional 1,497,636 shares during the period. Invesco Ltd. grew its position in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Nuveen LLC purchased a new position in shares of DoorDash during the first quarter valued at approximately $211,415,000. Finally, Deutsche Bank AG raised its stake in shares of DoorDash by 111.3% during the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after acquiring an additional 1,058,731 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Keith Yandell sold 18,034 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.16, for a total value of $4,385,147.44. Following the transaction, the insider directly owned 75,432 shares in the company, valued at $18,342,045.12. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,020,055 shares of company stock worth $250,222,491 over the last ninety days. Corporate insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DASH shares. Cantor Fitzgerald reissued an "overweight" rating and set a $330.00 price objective on shares of DoorDash in a report on Wednesday, September 17th. BTIG Research increased their price target on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. UBS Group raised their price target on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of DoorDash from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Oppenheimer upped their price target on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.76.

DoorDash Trading Up 1.4%

DASH stock traded up $3.66 during trading on Tuesday, hitting $266.41. The company had a trading volume of 1,357,954 shares, compared to its average volume of 4,533,162. DoorDash, Inc. has a one year low of $138.59 and a one year high of $278.15. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $250.63 and a 200-day moving average of $219.23. The stock has a market cap of $113.81 billion, a PE ratio of 148.08 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the firm posted ($0.38) EPS. DoorDash's quarterly revenue was up 24.9% compared to the same quarter last year. Research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal 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.