Skandinaviska Enskilda Banken AB publ Grows Stake in DoorDash, Inc. (NASDAQ:DASH)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 11.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,545 shares of the company’s stock after acquiring an additional 5,803 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in DoorDash were worth $6,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in shares of DoorDash by 102.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock worth $19,694,000 after acquiring an additional 100,787 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in DoorDash in the first quarter worth $2,969,000. Bank of Nova Scotia raised its holdings in DoorDash by 298.3% in the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock worth $18,413,000 after purchasing an additional 139,450 shares in the last quarter. D L Carlson Investment Group Inc. purchased a new position in DoorDash during the fourth quarter valued at $2,421,000. Finally, KBC Group NV boosted its holdings in shares of DoorDash by 64.8% during the 4th quarter. KBC Group NV now owns 31,879 shares of the company’s stock valued at $3,153,000 after buying an additional 12,538 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DASH. Cantor Fitzgerald assumed coverage on shares of DoorDash in a research note on Thursday, September 5th. They set an “overweight” rating and a $160.00 price objective on the stock. UBS Group upped their price target on DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. BMO Capital Markets lifted their price objective on DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. JMP Securities increased their target price on DoorDash from $140.00 to $145.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $150.00 price target on shares of DoorDash in a research report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.00.

DoorDash Price Performance

NASDAQ:DASH opened at $139.72 on Monday. DoorDash, Inc. has a one year low of $69.90 and a one year high of $143.34. The business has a fifty day moving average price of $121.37 and a 200-day moving average price of $121.44. The firm has a market capitalization of $57.13 billion, a price-to-earnings ratio of -129.37, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company earned ($0.44) EPS. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shona L. Brown sold 1,712 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the transaction, the director now owns 70,191 shares in the company, valued at $7,789,095.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,769 shares of company stock valued at $34,760,113. 7.92% of the stock is owned by corporate insiders.

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.