Swedbank AB Lowers Position in DoorDash, Inc. $DASH

Key Points

• Swedbank AB reduced its DoorDash stake by 3.6% in the fourth quarter, selling 7,438 shares and ending with 201,130 shares valued at about $45.6 million.
• DoorDash’s latest earnings beat EPS expectations, reporting $0.42 per share versus the $0.36 estimate, while revenue rose 33.1% year over year to $4.04 billion, slightly below forecasts.
• Wall Street remains generally positive on DASH, with a consensus “Moderate Buy” rating and an average price target of $259.58, even as some analysts trimmed their targets.

Swedbank AB cut its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 201,130 shares of the company's stock after selling 7,438 shares during the quarter. Swedbank AB's holdings in DoorDash were worth $45,552,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in DoorDash by 5.0% in the third quarter. American Century Companies Inc. now owns 485,088 shares of the company's stock worth $131,941,000 after acquiring an additional 22,944 shares during the period. Caprock Group LLC purchased a new stake in DoorDash in the third quarter worth about $3,169,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of DoorDash during the fourth quarter valued at about $41,712,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of DoorDash by 7.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company's stock valued at $219,276,000 after buying an additional 53,722 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its position in shares of DoorDash by 136.6% during the third quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company's stock valued at $11,520,000 after buying an additional 24,454 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on DASH shares. Sanford C. Bernstein decreased their price target on shares of DoorDash from $285.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. Piper Sandler decreased their price target on shares of DoorDash from $220.00 to $205.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Wells Fargo & Company increased their price target on shares of DoorDash from $198.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Barclays decreased their price target on shares of DoorDash from $238.00 to $220.00 and set an "equal weight" rating for the company in a research report on Thursday, February 19th. Finally, Oppenheimer decreased their price target on shares of DoorDash from $280.00 to $235.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $259.58.

DoorDash Stock Performance

Shares of DoorDash stock opened at $160.25 on Monday. The firm has a market capitalization of $69.82 billion, a P/E ratio of 76.31 and a beta of 1.87. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $162.96 and a 200 day moving average price of $189.27. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash's revenue was up 33.1% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. Sell-side analysts expect that DoorDash, Inc. will post 2.45 EPS for the current year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 10,000 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $188.34, for a total value of $1,883,400.00. Following the completion of the transaction, the chief operating officer directly owned 843,678 shares of the company's stock, valued at $158,898,314.52. This trade represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the transaction, the director directly owned 31,002 shares of the company's stock, valued at $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,683 shares of company stock valued at $6,908,813 in the last three months. 5.83% of the stock is owned by insiders.

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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