Handelsbanken Fonder AB Sells 21,755 Shares of DoorDash, Inc. (NASDAQ:DASH)

Handelsbanken Fonder AB cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 13.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 143,428 shares of the company’s stock after selling 21,755 shares during the quarter. Handelsbanken Fonder AB’s holdings in DoorDash were worth $24,063,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Rakuten Securities Inc. raised its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Pittenger & Anderson Inc. acquired a new stake in DoorDash during the 4th quarter valued at approximately $29,000. Princeton Global Asset Management LLC bought a new position in DoorDash during the 4th quarter worth approximately $34,000. ORG Wealth Partners LLC acquired a new position in shares of DoorDash in the 4th quarter worth approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In other news, CEO Tony Xu sold 108,334 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $270,105. This trade represents a 98.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the sale, the chief financial officer now owns 366,993 shares in the company, valued at $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 812,035 shares of company stock worth $142,357,630. 7.92% of the stock is owned by insiders.

DoorDash Price Performance

NASDAQ DASH opened at $202.25 on Friday. The company has a fifty day moving average price of $182.07 and a 200-day moving average price of $160.22. The firm has a market cap of $84.01 billion, a price-to-earnings ratio of 749.07 and a beta of 1.72. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.24.

Analyst Ratings Changes

A number of brokerages recently weighed in on DASH. Needham & Company LLC lifted their target price on shares of DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI lifted their price objective on DoorDash from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley upped their target price on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Roth Mkm lifted their target price on DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Truist Financial boosted their price target on DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $205.45.

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.