DoorDash, Inc. $DASH Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lowered its position in DoorDash, Inc. (NASDAQ:DASH) by 13.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,220,227 shares of the company’s stock after selling 353,955 shares during the period. Nordea Investment Management AB owned about 0.52% of DoorDash worth $598,373,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DASH. GFG Capital LLC acquired a new position in DoorDash in the 2nd quarter worth about $30,000. Sound Income Strategies LLC increased its position in shares of DoorDash by 2,760.0% in the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock valued at $39,000 after buying an additional 138 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of DoorDash in the third quarter valued at approximately $50,000. CX Institutional raised its stake in shares of DoorDash by 3,660.0% during the 3rd quarter. CX Institutional now owns 188 shares of the company’s stock worth $51,000 after buying an additional 183 shares during the period. Finally, Salomon & Ludwin LLC lifted its position in shares of DoorDash by 233.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 190 shares of the company’s stock valued at $52,000 after buying an additional 133 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Performance

Shares of DoorDash stock opened at $214.87 on Tuesday. The business’s 50 day moving average price is $217.16 and its 200 day moving average price is $241.22. The company has a market cap of $92.61 billion, a price-to-earnings ratio of 109.07 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. On average, research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

DASH has been the subject of several recent analyst reports. Oppenheimer reissued an “outperform” rating and issued a $280.00 price target on shares of DoorDash in a report on Thursday, November 6th. BMO Capital Markets reissued an “outperform” rating on shares of DoorDash in a research note on Friday, December 12th. Susquehanna reduced their price target on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating for the company in a research report on Friday, November 7th. Cantor Fitzgerald lifted their price objective on DoorDash from $270.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Mizuho reduced their target price on DoorDash from $350.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.94.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $244.39, for a total value of $7,331,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 288,410 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the sale, the chief executive officer owned 232,040 shares of the company’s stock, valued at $45,489,121.60. This represents a 55.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 617,043 shares of company stock valued at $130,033,258 over the last ninety days. Corporate insiders own 5.83% of the company’s stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.