Handelsbanken Fonder AB Decreases Stock Holdings in DoorDash, Inc. $DASH

Key Points

• Handelsbanken Fonder AB reduced its DoorDash stake by 4.5% in the fourth quarter, selling 7,334 shares and leaving it with 156,728 shares worth about $35.5 million.
• Analysts remain broadly positive on DoorDash, with a consensus rating of “Moderate Buy” and an average price target of $259.58, though some firms have recently lowered their targets.
• DoorDash reported strong quarterly growth, beating EPS estimates with $0.42 per share and posting revenue up 33.1% year over year, even as revenue came in slightly below expectations.

Handelsbanken Fonder AB trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 156,728 shares of the company's stock after selling 7,334 shares during the quarter. Handelsbanken Fonder AB's holdings in DoorDash were worth $35,496,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its position in DoorDash by 284.0% during the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company's stock valued at $26,000 after buying an additional 71 shares during the period. Eastern Bank boosted its position in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company's stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock worth $33,000 after acquiring an additional 67 shares during the last quarter. ST Germain D J Co. Inc. purchased a new stake in DoorDash during the fourth quarter valued at $29,000. Finally, Morse Asset Management Inc purchased a new stake in DoorDash during the third quarter valued at $36,000. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DASH has been the topic of a number of recent research reports. Barclays decreased their price target on shares of DoorDash from $238.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 19th. TD Cowen began coverage on shares of DoorDash in a research note on Monday, April 27th. They issued a "buy" rating and a $225.00 target price on the stock. Morgan Stanley reissued an "overweight" rating and issued a $275.00 target price on shares of DoorDash in a research note on Thursday, February 19th. Weiss Ratings raised shares of DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. Finally, Oppenheimer reduced their price target on shares of DoorDash from $280.00 to $235.00 and set an "outperform" rating on the stock in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $259.58.

DoorDash Stock Down 4.9%

NASDAQ:DASH opened at $154.65 on Wednesday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The stock has a market capitalization of $67.38 billion, a P/E ratio of 73.64 and a beta of 1.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The company's 50-day simple moving average is $163.68 and its 200-day simple moving average is $191.17.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company's revenue was up 33.1% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, equities analysts anticipate that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $176.61, for a total value of $220,762.50. Following the completion of the sale, the director directly owned 31,002 shares in the company, valued at $5,475,263.22. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the sale, the director owned 19,279 shares of the company's stock, valued at $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,683 shares of company stock worth $6,908,813 in the last three months. Corporate insiders own 5.83% of the company's stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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