27,762 Shares in DoorDash, Inc. (NASDAQ:DASH) Purchased by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,762 shares of the company’s stock, valued at approximately $4,657,000.

Several other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its position in DoorDash by 34.5% during the second quarter. Commonwealth Equity Services LLC now owns 6,275 shares of the company’s stock valued at $683,000 after purchasing an additional 1,611 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. Envestnet Asset Management Inc. grew its position in DoorDash by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 79,476 shares of the company’s stock worth $8,645,000 after acquiring an additional 1,828 shares in the last quarter. Dimensional Fund Advisors LP grew its position in DoorDash by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 919,633 shares of the company’s stock worth $100,051,000 after acquiring an additional 36,551 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in DoorDash by 0.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 84,638 shares of the company’s stock worth $9,197,000 after acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 115,432 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $265,515. This trade represents a 98.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,019,333 shares of company stock worth $177,556,541. Insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Benchmark raised their price objective on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target for the company in a research report on Wednesday, September 25th. Jefferies Financial Group boosted their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Raymond James initiated coverage on shares of DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $175.97.

DoorDash Trading Up 2.1 %

NASDAQ DASH opened at $174.48 on Friday. The firm’s fifty day simple moving average is $173.60 and its two-hundred day simple moving average is $145.73. The firm has a market capitalization of $72.48 billion, a P/E ratio of -387.73, a P/E/G ratio of 1.77 and a beta of 1.71. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $181.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business earned ($0.19) EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

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.