Avanza Fonder AB Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Avanza Fonder AB bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,762 shares of the company's stock, valued at approximately $4,657,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DASH. Rakuten Securities Inc. boosted its holdings in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of DoorDash in the fourth quarter valued at approximately $36,000. Quest Partners LLC boosted its holdings in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company's stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of DoorDash in the third quarter valued at approximately $54,000. Finally, Quarry LP bought a new position in shares of DoorDash in the second quarter valued at approximately $60,000. Institutional investors own 90.64% of the company's stock.

Insiders Place Their Bets

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company's stock, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company's stock, valued at $255,375. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,019,333 shares of company stock worth $177,556,541 in the last ninety days. Insiders own 7.92% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $137.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on shares of DoorDash from $161.00 to $192.00 and gave the company a "neutral" rating in a report on Thursday. Argus upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Evercore ISI raised their target price on shares of DoorDash from $155.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, Truist Financial raised their target price on shares of DoorDash from $180.00 to $217.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $175.97.

DoorDash Stock Up 2.1 %

Shares of DASH traded up $3.63 during mid-day trading on Friday, hitting $174.48. 3,653,938 shares of the company's stock were exchanged, compared to its average volume of 2,062,418. The firm has a fifty day moving average of $173.60 and a two-hundred day moving average of $145.73. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $181.78. The stock has a market cap of $72.48 billion, a price-to-earnings ratio of -387.73, a P/E/G ratio of 1.77 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. DoorDash's quarterly revenue was up 25.0% on a year-over-year basis. On average, equities analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current year.

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.