KLP Kapitalforvaltning AS Buys 6,100 Shares of DoorDash, Inc. $DASH

KLP Kapitalforvaltning AS increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 5.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 126,600 shares of the company's stock after acquiring an additional 6,100 shares during the period. KLP Kapitalforvaltning AS's holdings in DoorDash were worth $31,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Saudi Central Bank bought a new stake in shares of DoorDash during the 1st quarter worth approximately $25,000. WPG Advisers LLC bought a new stake in shares of DoorDash during the 1st quarter worth approximately $26,000. Pacific Center for Financial Services bought a new stake in shares of DoorDash during the 1st quarter worth approximately $27,000. Harbour Investments Inc. lifted its stake in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 70 shares during the last quarter. Finally, SouthState Corp lifted its stake in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after acquiring an additional 183 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares of the company's stock, valued at approximately $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,000,229 shares of company stock valued at $249,280,188. 5.83% of the stock is currently owned by insiders.

DoorDash Trading Down 1.8%

DASH opened at $276.78 on Wednesday. The firm has a market cap of $118.24 billion, a price-to-earnings ratio of 153.77 and a beta of 1.71. 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, Inc. has a 12 month low of $141.26 and a 12 month high of $285.08. The stock has a fifty day moving average price of $256.89 and a 200-day moving average price of $225.36.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion during 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 business's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.38) EPS. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DASH shares. Weiss Ratings reissued a "hold (c)" rating on shares of DoorDash in a research note on Saturday, September 27th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Piper Sandler lifted their target price on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Jefferies Financial Group lifted their target price on DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, Bank of America lifted their target price on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.27.

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.

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