Handelsbanken Fonder AB Sells 2,393 Shares of DoorDash, Inc. (NASDAQ:DASH)

Handelsbanken Fonder AB cut its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,035 shares of the company's stock after selling 2,393 shares during the period. Handelsbanken Fonder AB's holdings in DoorDash were worth $25,777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GeoWealth Management LLC lifted its stake in shares of DoorDash by 3.7% in the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock valued at $240,000 after buying an additional 51 shares during the period. IFP Advisors Inc lifted its position in shares of DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after acquiring an additional 54 shares during the period. Avestar Capital LLC grew its holdings in shares of DoorDash by 1.1% during the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company's stock worth $1,110,000 after purchasing an additional 75 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of DoorDash by 5.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock valued at $279,000 after purchasing an additional 86 shares during the period. Finally, LVW Advisors LLC raised its stake in shares of DoorDash by 6.1% in the first quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock valued at $273,000 after purchasing an additional 86 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

NASDAQ:DASH traded down $0.33 on Thursday, reaching $217.47. The company's stock had a trading volume of 902,202 shares, compared to its average volume of 4,191,592. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $220.88. The business's 50-day moving average price is $194.44 and its two-hundred day moving average price is $187.25. The firm has a market cap of $92.15 billion, a PE ratio of 805.44 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on DASH. BMO Capital Markets reissued an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Loop Capital upped their price objective on DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Piper Sandler restated a "neutral" rating and set a $210.00 target price (up previously from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. Evercore ISI reaffirmed an "outperform" rating on shares of DoorDash in a research note on Monday, March 10th. Finally, The Goldman Sachs Group upped their price target on DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $210.21.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the transaction, the director now owns 18,285 shares in the company, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Keith Yandell sold 5,410 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $204.53, for a total value of $1,106,507.30. Following the completion of the transaction, the insider now owns 104,922 shares of the company's stock, valued at $21,459,696.66. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 298,030 shares of company stock valued at $59,433,406. Company insiders own 5.83% of the company's stock.

DoorDash Company 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.