Forsta AP Fonden Has $7.55 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Forsta AP Fonden increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,800 shares of the company’s stock after acquiring an additional 5,700 shares during the period. Forsta AP Fonden’s holdings in DoorDash were worth $7,547,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after acquiring an additional 772,977 shares during the last quarter. Capital World Investors raised its stake in shares of DoorDash by 0.6% in the fourth quarter. Capital World Investors now owns 9,395,743 shares of the company’s stock worth $929,145,000 after acquiring an additional 60,033 shares during the last quarter. First Trust Advisors LP raised its stake in shares of DoorDash by 45.6% in the fourth quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock worth $304,490,000 after acquiring an additional 964,860 shares during the last quarter. Finally, Norges Bank bought a new position in shares of DoorDash in the fourth quarter worth about $264,806,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

Shares of DASH opened at $106.00 on Monday. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $143.34. The firm has a fifty day simple moving average of $111.92 and a 200 day simple moving average of $117.83.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the firm posted ($0.41) earnings per share. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post 0.09 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Tony Xu sold 132,300 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total transaction of $916,650.00. Following the completion of the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at $50,340,453.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 487,150 shares of company stock valued at $57,195,176. 7.92% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DASH. JPMorgan Chase & Co. boosted their price target on shares of DoorDash from $108.00 to $111.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Roth Mkm dropped their price target on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of DoorDash in a research note on Thursday, May 2nd. Loop Capital began coverage on shares of DoorDash in a research note on Friday, April 19th. They set a “buy” rating and a $170.00 price target for the company. Finally, KeyCorp began coverage on shares of DoorDash in a research note on Thursday. They set a “sector weight” rating for the company. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.79.

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.