DoorDash, Inc. $DASH Shares Sold by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its shares in DoorDash by 4.6%, holding 95,968 shares valued at approximately $17.5 million at the end of the last quarter.
• Major investors such as Vanguard Group and Goldman Sachs have increased their holdings in DoorDash, with Vanguard growing its stake by 25.8% in the same period.
• DoorDash reported earnings of $0.65 per share, surpassing estimates, with a significant year-over-year revenue growth of 24.9% for the quarter.

Lansforsakringar Fondforvaltning AB publ lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 95,968 shares of the company's stock after selling 4,633 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in DoorDash were worth $17,540,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DASH. Vanguard Group Inc. increased its position in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. Invesco Ltd. increased its position in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the last quarter. Nuveen LLC bought a new position in shares of DoorDash during the 1st quarter valued at approximately $211,415,000. Deutsche Bank AG increased its position in shares of DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after purchasing an additional 1,058,731 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of DoorDash by 38.2% during the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after purchasing an additional 915,512 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Analysts Set New Price Targets

DASH has been the topic of several research analyst reports. Oppenheimer upped their price objective on DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Needham & Company LLC set a $300.00 target price on DoorDash and gave the stock a "buy" rating in a report on Thursday, August 7th. Truist Financial upped their target price on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Citigroup reiterated an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $263.88.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. This represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 901,361 shares of company stock valued at $218,575,187 over the last three months. Company insiders own 5.83% of the company's stock.

DoorDash Stock Down 0.8%

NASDAQ:DASH traded down $1.96 during mid-day trading on Tuesday, hitting $243.29. 1,912,676 shares of the company's stock traded hands, compared to its average volume of 4,633,235. The company has a fifty day moving average of $245.82 and a 200 day moving average of $213.06. DoorDash, Inc. has a twelve month low of $122.32 and a twelve month high of $278.15. The company has a market capitalization of $103.93 billion, a P/E ratio of 135.52 and a beta of 1.70. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company's revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.38) earnings per share. On average, analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current 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.