Forsta AP Fonden Purchases 2,900 Shares of DoorDash, Inc. $DASH

Forsta AP Fonden increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,700 shares of the company’s stock after purchasing an additional 2,900 shares during the period. Forsta AP Fonden’s holdings in DoorDash were worth $17,921,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DASH. Saudi Central Bank bought a new stake in DoorDash in the 1st quarter valued at $25,000. WPG Advisers LLC acquired a new stake in shares of DoorDash during the 1st quarter valued at about $26,000. Pacific Center for Financial Services bought a new stake in DoorDash in the first quarter valued at about $27,000. GFG Capital LLC acquired a new position in DoorDash in the second quarter worth about $30,000. Finally, Harbour Investments Inc. raised its position in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 70 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DASH shares. Oppenheimer reiterated an “outperform” rating and issued a $280.00 price objective on shares of DoorDash in a research note on Thursday, November 6th. UBS Group dropped their price objective on DoorDash from $316.00 to $241.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Bank of America cut their price objective on DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $360.00 target price (up previously from $240.00) on shares of DoorDash in a report on Friday, August 8th. Finally, Truist Financial increased their target price on shares of DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $279.74.

DoorDash Trading Down 2.1%

DASH stock opened at $196.51 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50. The company has a market cap of $83.95 billion, a P/E ratio of 99.75 and a beta of 1.70. The business has a fifty day moving average of $256.01 and a 200-day moving average of $237.98.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. DoorDash’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $244.39, for a total transaction of $7,331,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $263.86, for a total transaction of $376,000.50. Following the completion of the transaction, the chief financial officer directly owned 214,147 shares in the company, valued at approximately $56,504,827.42. The trade was a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 825,277 shares of company stock worth $205,015,591 over the last 90 days. Insiders own 5.83% of the company’s stock.

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.