BI Asset Management Fondsmaeglerselskab A S Sells 20,191 Shares of DoorDash, Inc. $DASH

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its position in DoorDash, Inc. by 61.3%, selling 20,191 shares and holding 12,751 shares valued at approximately $2.33 million.
• DoorDash has received several analyst upgrades, with price targets revised upwards, including DA Davidson's target raised from $150 to $190, indicating overall optimism in the stock's performance.
• Insider selling was notable as CEO Tony Xu sold 51,250 shares for over $13 million, while insiders collectively sold 613,776 shares worth nearly $148 million in the last quarter.

BI Asset Management Fondsmaeglerselskab A S cut its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 61.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,751 shares of the company's stock after selling 20,191 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in DoorDash were worth $2,331,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DASH. Brighton Jones LLC raised its holdings in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares during the last quarter. NewEdge Advisors LLC raised its holdings in DoorDash by 9.3% in the fourth quarter. NewEdge Advisors LLC now owns 6,068 shares of the company's stock worth $1,018,000 after buying an additional 514 shares during the last quarter. MML Investors Services LLC raised its holdings in DoorDash by 3.1% in the fourth quarter. MML Investors Services LLC now owns 22,625 shares of the company's stock worth $3,795,000 after buying an additional 682 shares during the last quarter. Stifel Financial Corp raised its holdings in DoorDash by 50.5% in the fourth quarter. Stifel Financial Corp now owns 32,692 shares of the company's stock worth $5,484,000 after buying an additional 10,968 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in DoorDash by 35.8% in the fourth quarter. Hsbc Holdings PLC now owns 291,459 shares of the company's stock worth $48,955,000 after buying an additional 76,867 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of DASH traded up $3.10 during mid-day trading on Tuesday, reaching $248.38. The stock had a trading volume of 1,189,661 shares, compared to its average volume of 4,681,945. The firm has a market cap of $106.11 billion, a price-to-earnings ratio of 137.99 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $122.32 and a 12 month high of $278.15. The business has a fifty day moving average of $243.40 and a 200 day moving average of $211.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. 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 business posted ($0.38) earnings per share. The company's revenue was up 24.9% on a year-over-year basis. Equities analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the transaction, the director owned 22,545 shares in the company, valued at approximately $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 890,883 shares of company stock worth $214,419,337. 5.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DASH. Oppenheimer lifted their target price on shares of DoorDash from $280.00 to $310.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Needham & Company LLC set a $300.00 price objective on shares of DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. DA Davidson boosted their price objective on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company boosted their price objective on shares of DoorDash from $239.00 to $280.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

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.