Handelsbanken Fonder AB Reduces Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Handelsbanken Fonder AB trimmed its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,428 shares of the company's stock after selling 21,755 shares during the quarter. Handelsbanken Fonder AB's holdings in DoorDash were worth $24,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of DoorDash by 289.0% during the 3rd quarter. Blue Trust Inc. now owns 2,373 shares of the company's stock worth $339,000 after buying an additional 1,763 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in DoorDash by 36.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,980 shares of the company's stock valued at $568,000 after buying an additional 1,058 shares during the last quarter. Signaturefd LLC lifted its holdings in DoorDash by 10.9% during the third quarter. Signaturefd LLC now owns 4,885 shares of the company's stock worth $697,000 after acquiring an additional 480 shares during the period. International Assets Investment Management LLC bought a new stake in shares of DoorDash during the 3rd quarter worth $1,772,000. Finally, IFM Investors Pty Ltd boosted its stake in DoorDash by 9.0% in the third quarter. IFM Investors Pty Ltd now owns 60,795 shares of the company's stock valued at $8,677,000 after acquiring an additional 5,032 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DASH. JPMorgan Chase & Co. increased their price target on DoorDash from $155.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. BMO Capital Markets restated an "outperform" rating and issued a $240.00 price objective (up from $180.00) on shares of DoorDash in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of DoorDash from $215.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Citigroup increased their target price on shares of DoorDash from $211.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley boosted their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and an average price target of $206.52.

DoorDash Trading Down 1.1 %

Shares of DASH stock traded down $2.27 during mid-day trading on Monday, reaching $197.67. The stock had a trading volume of 2,096,237 shares, compared to its average volume of 3,394,132. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.24. The firm has a market capitalization of $83.04 billion, a PE ratio of 730.47 and a beta of 1.72. The stock's 50-day moving average price is $182.56 and its two-hundred day moving average price is $161.31.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $179.76, for a total transaction of $1,258,320.00. Following the completion of the sale, the chief financial officer now owns 373,993 shares of the company's stock, valued at $67,228,981.68. This trade represents a 1.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 115,432 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at $265,515. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 812,035 shares of company stock valued at $142,357,630. 7.92% of the stock is currently owned by corporate insiders.

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.