Skandinaviska Enskilda Banken AB publ Buys 33,299 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Skandinaviska Enskilda Banken AB increased its position in DoorDash by 39.0% during the first quarter, owning a total of 118,574 shares valued at approximately $21.67 million.
• DoorDash reported earnings of $0.44 per share for the latest quarter, surpassing analysts' expectations, with quarterly revenue reaching $3.03 billion.
• Analysts have given DoorDash a moderate overall rating, with price targets ranging from $230 to $275, indicating strong interest and confidence in the company's future performance.

Skandinaviska Enskilda Banken AB publ raised its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,574 shares of the company's stock after purchasing an additional 33,299 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in DoorDash were worth $21,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DASH. ORG Partners LLC lifted its holdings in DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC lifted its holdings in DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after acquiring an additional 247 shares during the period. Mizuho Securities Co. Ltd. lifted its holdings in DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after acquiring an additional 180 shares during the period. Washington Trust Advisors Inc. bought a new stake in DoorDash during the first quarter worth $56,000. Finally, Cromwell Holdings LLC bought a new stake in DoorDash during the first quarter worth $58,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ravi Inukonda sold 1,425 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $244.78, for a total value of $348,811.50. Following the completion of the sale, the chief financial officer owned 244,905 shares of the company's stock, valued at approximately $59,947,845.90. The trade was a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Shona L. Brown sold 825 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $250.00, for a total value of $206,250.00. Following the completion of the sale, the director directly owned 43,477 shares of the company's stock, valued at approximately $10,869,250. This trade represents a 1.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 508,189 shares of company stock valued at $115,099,939. 5.83% of the stock is owned by insiders.

DoorDash Price Performance

DASH stock traded up $3.63 during mid-day trading on Wednesday, hitting $246.83. 656,826 shares of the stock were exchanged, compared to its average volume of 4,775,845. The business has a fifty day moving average price of $227.94 and a 200 day moving average price of $202.04. DoorDash, Inc. has a 12 month low of $105.91 and a 12 month high of $250.71. The stock has a market capitalization of $104.59 billion, a price-to-earnings ratio of 320.54 and a beta of 1.70.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DASH. DA Davidson lifted their price target on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. KeyCorp lifted their price target on DoorDash from $235.00 to $295.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $260.00 target price (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Citigroup reissued an "outperform" rating on shares of DoorDash in a research report on Thursday, June 12th. Finally, Wedbush reissued an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.56.

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.