Handelsbanken Fonder AB Acquires 97,901 Shares of DoorDash, Inc. (NASDAQ:DASH)

Handelsbanken Fonder AB grew its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 237.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,142 shares of the company's stock after purchasing an additional 97,901 shares during the quarter. Handelsbanken Fonder AB's holdings in DoorDash were worth $13,765,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Versor Investments LP acquired a new stake in shares of DoorDash in the third quarter worth $556,000. Assenagon Asset Management S.A. grew its holdings in DoorDash by 1,725.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company's stock valued at $110,082,000 after purchasing an additional 1,052,198 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in DoorDash during the 4th quarter valued at $769,000. Angeles Investment Advisors LLC acquired a new stake in DoorDash during the 3rd quarter valued at $336,000. Finally, Bank of Nova Scotia grew its holdings in DoorDash by 685.9% during the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company's stock valued at $3,715,000 after purchasing an additional 40,802 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DASH has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of DoorDash from $140.00 to $152.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Benchmark initiated coverage on shares of DoorDash in a report on Thursday, April 4th. They set a "buy" rating and a $165.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of DoorDash from $100.00 to $125.00 and gave the stock an "equal weight" rating in a report on Thursday, April 4th. JMP Securities raised their price objective on shares of DoorDash from $130.00 to $160.00 and gave the stock a "market outperform" rating in a report on Wednesday, March 27th. Finally, Roth Mkm raised their price target on shares of DoorDash from $92.00 to $109.00 and gave the stock a "neutral" rating in a research report on Friday, January 19th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $130.52.

DoorDash Price Performance

DoorDash stock traded down $2.60 during trading hours on Wednesday, reaching $126.76. The company had a trading volume of 4,308,968 shares, compared to its average volume of 3,598,281. The company has a 50-day moving average price of $130.95 and a 200 day moving average price of $108.06. The firm has a market cap of $51.21 billion, a price-to-earnings ratio of -88.64, a P/E/G ratio of 14.16 and a beta of 1.79. DoorDash, Inc. has a 12-month low of $56.59 and a 12-month high of $143.34.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. The company's revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, research analysts expect that DoorDash, Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 132,300 shares of the company's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoorDash news, CEO Tony Xu sold 132,300 shares of the company's stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total value of $17,663,373.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 700 shares of the company's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total value of $76,797.00. Following the completion of the sale, the director now owns 71,514 shares of the company's stock, valued at approximately $7,845,800.94. The disclosure for this sale can be found here. Insiders sold 497,282 shares of company stock worth $64,885,042 over the last quarter. 9.59% of the stock is currently owned by insiders.

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.