KLP Kapitalforvaltning AS Buys 18,100 Shares of DoorDash, Inc. (NASDAQ:DASH)

KLP Kapitalforvaltning AS lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 17.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 120,500 shares of the company's stock after acquiring an additional 18,100 shares during the period. KLP Kapitalforvaltning AS's holdings in DoorDash were worth $22,024,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after acquiring an additional 1,807 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of DoorDash during the 4th quarter worth about $219,000. Avantax Advisory Services Inc. lifted its holdings in DoorDash by 20.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,103 shares of the company's stock valued at $353,000 after purchasing an additional 359 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in DoorDash by 43.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,026 shares of the company's stock valued at $1,682,000 after buying an additional 3,013 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in DoorDash in the fourth quarter valued at about $623,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Price Performance

Shares of NASDAQ DASH traded up $6.23 during midday trading on Friday, reaching $249.92. 3,051,438 shares of the stock were exchanged, compared to its average volume of 3,405,321. DoorDash, Inc. has a 12 month low of $102.81 and a 12 month high of $250.23. The company has a market capitalization of $105.90 billion, a price-to-earnings ratio of 324.58 and a beta of 1.70. The business has a 50-day simple moving average of $226.30 and a two-hundred day simple moving average of $201.03.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm's revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. Equities research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 30,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total value of $7,219,800.00. Following the sale, the director directly owned 22,545 shares in the company, valued at $5,425,679.70. The trade was a 57.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $244.99, for a total value of $306,237.50. Following the completion of the sale, the director directly owned 44,302 shares in the company, valued at approximately $10,853,546.98. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 441,773 shares of company stock valued at $98,711,043 over the last three months. Insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Morgan Stanley reaffirmed an "overweight" rating and set a $275.00 price target (up from $220.00) on shares of DoorDash in a report on Monday, July 21st. DA Davidson boosted their price objective on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. KeyCorp increased their target price on DoorDash from $235.00 to $295.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, UBS Group cut their price target on DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $230.34.

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.