BI Asset Management Fondsmaeglerselskab A S Buys 7,818 Shares of DoorDash, Inc. $DASH

Key Points

• BI Asset Management increased its DoorDash stake by 18% in the fourth quarter, buying 7,818 additional shares and bringing its total holding to 51,221 shares worth about $11.6 million.
• Wall Street remains largely positive on DoorDash, with an average “Moderate Buy” rating and a consensus price target of $259.58, even though some firms trimmed targets or stayed neutral.
• DoorDash reported better-than-expected earnings of $0.42 per share, though revenue of $4.04 billion came in below estimates; insiders also sold shares recently, including COO Prabir Adarkar and Director Stanley Tang.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 18.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,221 shares of the company's stock after purchasing an additional 7,818 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in DoorDash were worth $11,601,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eastern Bank increased its holdings in DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of DoorDash in the fourth quarter worth about $29,000. Sunbelt Securities Inc. increased its holdings in shares of DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock worth $33,000 after acquiring an additional 67 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of DoorDash in the third quarter worth about $36,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of DoorDash in the fourth quarter worth about $39,000. Institutional investors own 90.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Roth Mkm reiterated a "neutral" rating and set a $200.00 price objective on shares of DoorDash in a report on Thursday, February 19th. Citigroup decreased their price objective on DoorDash from $280.00 to $250.00 and set a "buy" rating for the company in a report on Friday, May 8th. Evercore set a $300.00 price objective on DoorDash in a report on Thursday, February 19th. BTIG Research reiterated a "buy" rating and set a $280.00 price objective on shares of DoorDash in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $259.58.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $156.80 on Friday. The stock has a 50 day moving average price of $162.40 and a 200 day moving average price of $185.84. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $68.32 billion, a PE ratio of 74.67 and a beta of 1.83.

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. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The business's quarterly revenue was up 33.1% compared to the same quarter last year. Analysts predict that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 21,739 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the sale, the chief operating officer directly owned 959,076 shares of the company's stock, valued at $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the completion of the sale, the director directly owned 19,279 shares of the company's stock, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 69,808 shares of company stock valued at $11,135,403. Insiders own 5.83% of the company's stock.

DoorDash Company 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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