Avanza Fonder AB Invests $4.66 Million in DoorDash, Inc. (NASDAQ:DASH)

Avanza Fonder AB bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 27,762 shares of the company’s stock, valued at approximately $4,657,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Asset Management One Co. Ltd. grew its stake in shares of DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the period. Marshall Wace LLP boosted its holdings in DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after buying an additional 610,388 shares in the last quarter. Forsta AP Fonden grew its position in DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after buying an additional 10,100 shares during the period. Sanctuary Advisors LLC grew its position in DoorDash by 48.8% during the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after buying an additional 3,498 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Up 2.1 %

NASDAQ:DASH opened at $174.48 on Friday. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $181.78. The stock’s fifty day moving average is $173.60 and its two-hundred day moving average is $145.73. The company 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 (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned ($0.19) EPS. The company’s quarterly revenue was up 25.0% on a year-over-year basis. Sell-side analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Tia Sherringham sold 12,950 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the completion of the transaction, the general counsel now directly owns 145,917 shares in the company, valued at $24,802,971.66. This trade represents a 8.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,019,333 shares of company stock valued at $177,556,541. Company insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial raised their target price on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. raised their price objective on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their target price on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. KeyCorp lifted their price target on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Finally, Benchmark boosted their price target on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.97.

About DoorDash

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.