Handelsbanken Fonder AB Has $13.77 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

Handelsbanken Fonder AB grew its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 237.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,142 shares of the company’s stock after buying an additional 97,901 shares during the quarter. Handelsbanken Fonder AB’s holdings in DoorDash were worth $13,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in DASH. Fifth Third Bancorp raised its stake in shares of DoorDash by 448.8% in the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after acquiring an additional 359 shares in the last quarter. Valley National Advisers Inc. bought a new position in shares of DoorDash in the 4th quarter valued at approximately $43,000. SJS Investment Consulting Inc. raised its stake in shares of DoorDash by 26.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock valued at $46,000 after acquiring an additional 98 shares in the last quarter. Covestor Ltd raised its stake in shares of DoorDash by 101.2% in the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after acquiring an additional 253 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of DoorDash by 182.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 564 shares of the company’s stock valued at $56,000 after acquiring an additional 364 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 brokerages have commented on DASH. Royal Bank of Canada raised DoorDash from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $130.00 to $175.00 in a research report on Monday, March 4th. UBS Group dropped their price target on DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Mizuho lifted their price target on DoorDash from $140.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 price target on shares of DoorDash in a research report on Tuesday, February 6th. Finally, Piper Sandler raised DoorDash from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $127.00 in a research report on Friday, March 15th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.52.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 5,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $109.73, for a total transaction of $548,650.00. Following the sale, the chief financial officer now owns 414,738 shares in the company, valued at $45,509,200.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ravi Inukonda sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $109.73, for a total value of $548,650.00. Following the transaction, the chief financial officer now owns 414,738 shares in the company, valued at $45,509,200.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Keith Yandell sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $104.89, for a total value of $367,115.00. Following the completion of the transaction, the insider now owns 179,350 shares in the company, valued at approximately $18,812,021.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 497,282 shares of company stock worth $64,885,042. Insiders own 9.59% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $129.36 on Wednesday. The stock’s fifty day moving average is $130.81 and its 200-day moving average is $107.93. The stock has a market capitalization of $52.26 billion, a PE ratio of -90.46, a PEG ratio of 14.15 and a beta of 1.79. DoorDash, Inc. has a 52 week low of $56.59 and a 52 week high of $143.34.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.24). The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. DoorDash’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.63) EPS. As a group, analysts forecast that DoorDash, Inc. will post 0.21 earnings per share for the current fiscal year.

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.