Handelsbanken Fonder AB Cuts Holdings in DoorDash, Inc. (NASDAQ:DASH)

Handelsbanken Fonder AB trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,183 shares of the company’s stock after selling 10,961 shares during the quarter. Handelsbanken Fonder AB’s holdings in DoorDash were worth $23,562,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DASH. Vanguard Group Inc. raised its holdings in shares of DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after acquiring an additional 2,259,976 shares in the last quarter. Baillie Gifford & Co. raised its stake in DoorDash by 0.8% during the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock valued at $1,359,477,000 after purchasing an additional 94,241 shares in the last quarter. Capital World Investors lifted its position in DoorDash by 0.8% during the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after purchasing an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after buying an additional 242,956 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DASH shares. Oppenheimer increased their price target on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Redburn Atlantic began coverage on DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of DoorDash in a research report on Monday, September 30th. Susquehanna raised their price target on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, August 5th. Finally, Raymond James started coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $146.91.

DoorDash Stock Performance

DoorDash stock traded up $2.74 during mid-day trading on Friday, reaching $144.86. 2,658,645 shares of the company were exchanged, compared to its average volume of 3,910,278. The firm has a market cap of $59.24 billion, a P/E ratio of -134.13, a PEG ratio of 295.70 and a beta of 1.70. The business has a fifty day moving average of $129.04 and a 200 day moving average of $122.30. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $146.36.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share 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 for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the company earned ($0.44) earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. Sell-side analysts predict that DoorDash, Inc. will post 0.01 EPS for the current year.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $105.57, for a total value of $5,278,500.00. Following the completion of the sale, the director now directly owns 19,982 shares in the company, valued at approximately $2,109,499.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,503 shares of company stock worth $33,988,063. Corporate insiders own 7.92% of the company’s stock.

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.