Swedbank AB Increases Stock Holdings in DoorDash, Inc. $DASH

Key Points

• Swedbank AB increased its stake in DoorDash, Inc. by 12.9% in the second quarter, holding 208,610 shares valued at approximately $51.4 million.
• Several other institutional investors also adjusted their positions, with notable increases from Sivia Capital Partners LLC (92.9%) and Pallas Capital Advisors LLC (24.9%). A total of 90.64% of DoorDash's shares are now owned by institutional investors.
• DoorDash's recent financial results exceeded expectations, reporting EPS of $0.65 for the quarter, surpassing the predicted $0.42, alongside a revenue of $3.28 billion, which was above analyst estimates of $3.16 billion.

Swedbank AB raised its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,610 shares of the company's stock after buying an additional 23,761 shares during the quarter. Swedbank AB's holdings in DoorDash were worth $51,424,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DASH. Brighton Jones LLC lifted its position in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after buying an additional 1,807 shares during the last quarter. Snowden Capital Advisors LLC acquired a new position in DoorDash in the fourth quarter valued at about $251,000. State of Wyoming acquired a new position in DoorDash in the fourth quarter valued at about $187,000. Vident Advisory LLC lifted its position in shares of DoorDash by 1.4% during the fourth quarter. Vident Advisory LLC now owns 10,721 shares of the company's stock worth $1,799,000 after purchasing an additional 147 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC acquired a new stake in shares of DoorDash during the fourth quarter worth about $314,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BTIG Research increased their price target on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Roth Capital increased their price target on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. BMO Capital Markets increased their price target on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. KeyCorp reissued an "overweight" rating and set a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Finally, Stifel Nicolaus increased their price target on shares of DoorDash from $214.00 to $239.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $268.76.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. This represents a 55.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. This represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,022,728 shares of company stock valued at $250,841,825. Company insiders own 5.83% of the company's stock.

DoorDash Stock Down 1.0%

NASDAQ:DASH traded down $2.54 during mid-day trading on Monday, hitting $262.75. The stock had a trading volume of 2,952,096 shares, compared to its average volume of 3,044,862. The stock has a 50-day simple moving average of $250.63 and a two-hundred day simple moving average of $219.23. The company has a market capitalization of $112.25 billion, a PE ratio of 145.97 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $138.59 and a twelve month 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.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm's revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) earnings per share. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

About DoorDash

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.