Andra AP fonden Raises Stake in DoorDash, Inc. (NASDAQ:DASH)

Andra AP fonden raised its position in DoorDash, Inc. (NASDAQ:DASH) by 140.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,700 shares of the company’s stock after acquiring an additional 92,700 shares during the quarter. Andra AP fonden’s holdings in DoorDash were worth $17,263,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in DoorDash by 8.4% in the fourth 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 during the last quarter. Baillie Gifford & Co. lifted its stake in DoorDash by 0.8% in the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock worth $1,359,477,000 after acquiring an additional 94,241 shares during the last quarter. Capital World Investors lifted its stake in DoorDash by 0.8% in the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock worth $1,304,242,000 after acquiring an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in DoorDash by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after acquiring an additional 242,956 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after acquiring an additional 3,425,115 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler restated a “neutral” rating and set a $125.00 price objective (up previously from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. Barclays boosted their price objective on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Evercore ISI boosted their price objective on shares of DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Benchmark restated a “buy” rating and set a $150.00 price objective on shares of DoorDash in a research report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $142.57.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now owns 396,152 shares in the company, valued at $50,651,994.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,769 shares of company stock valued at $28,250,113. Insiders own 7.92% of the company’s stock.

DoorDash Trading Up 1.0 %

Shares of DASH opened at $125.81 on Wednesday. DoorDash, Inc. has a twelve month low of $69.90 and a twelve month high of $143.34. The firm has a market capitalization of $51.45 billion, a P/E ratio of -116.49, a PEG ratio of 737.67 and a beta of 1.69. The firm’s 50-day moving average is $117.35 and its two-hundred day moving average is $121.10.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results 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 firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the company earned ($0.44) EPS. The business’s revenue was up 23.3% on a year-over-year basis.

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.