DoorDash, Inc. (NASDAQ:DASH) Stock Holdings Lowered by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in DoorDash, Inc. by 11.9%, selling 9,400 shares in the first quarter, which left it with 69,800 shares valued at approximately $12.76 million.
• CEO Tony Xu sold 44,244 shares, representing a 7.84% decrease in his ownership, while insiders collectively sold over 583,000 shares valued at $133.72 million in the last three months.
• Analysts have a consensus rating of "Moderate Buy" for DoorDash stock, with target price increases from several firms, including Truist Financial, which raised its target from $272 to $326.

Forsta AP Fonden lessened its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 11.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 69,800 shares of the company's stock after selling 9,400 shares during the period. Forsta AP Fonden's holdings in DoorDash were worth $12,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. lifted its stake in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares during the period. ORG Partners LLC lifted its holdings in shares of DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC lifted its holdings in shares of DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. grew its position in shares of DoorDash by 150.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares during the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of DoorDash in the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Up 3.2%

DASH traded up $8.23 during trading on Tuesday, hitting $264.32. The company had a trading volume of 2,901,608 shares, compared to its average volume of 4,781,777. The company has a market cap of $112.00 billion, a PE ratio of 146.85 and a beta of 1.70. The business has a 50-day moving average of $236.97 and a 200-day moving average of $207.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 1-year low of $122.32 and a 1-year high of $278.15.

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

Insider Activity

In other DoorDash news, Director Shona L. Brown sold 1,650 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $272.00, for a total transaction of $448,800.00. Following the completion of the sale, the director owned 41,827 shares in the company, valued at $11,376,944. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the business'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 sale, the director owned 22,545 shares of the company's stock, valued at approximately $6,216,558.30. The trade was a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 635,187 shares of company stock valued at $147,955,804 over the last quarter. 5.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DASH has been the topic of several research reports. Citigroup reiterated an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Oppenheimer increased their price target on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Sanford C. Bernstein increased their price target on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Stifel Nicolaus increased their price target on shares of DoorDash from $214.00 to $239.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $325.00 price target (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Twelve research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.