SEB Asset Management AB Acquires Shares of 83,657 DoorDash, Inc. $DASH

SEB Asset Management AB purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the first quarter, HoldingsChannel.com reports. The firm purchased 83,657 shares of the company’s stock, valued at approximately $12,561,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CYBER HORNET ETFs LLC boosted its stake in shares of DoorDash by 6.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock worth $222,000 after buying an additional 60 shares during the period. Vise Technologies Inc. increased its position in DoorDash by 1.8% in the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock valued at $796,000 after acquiring an additional 63 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in DoorDash by 7.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company’s stock valued at $222,000 after acquiring an additional 64 shares during the period. Sunbelt Securities Inc. raised its stake in DoorDash by 124.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after acquiring an additional 67 shares during the last quarter. Finally, AXS Investments LLC raised its stake in DoorDash by 1.3% during the 4th quarter. AXS Investments LLC now owns 5,438 shares of the company’s stock valued at $1,232,000 after acquiring an additional 69 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DASH has been the subject of several recent research reports. Truist Financial decreased their price target on DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, May 7th. KeyCorp dropped their price objective on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 14th. Zacks Research upgraded shares of DoorDash from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Piper Sandler lowered their target price on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $252.89.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 23,125 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total transaction of $4,421,268.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 74,927 shares of company stock worth $13,241,532. Corporate insiders own 5.83% of the company’s stock.

DoorDash Trading Up 2.7%

Shares of DoorDash stock opened at $189.02 on Tuesday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The business has a 50 day moving average price of $170.39 and a 200 day moving average price of $177.02. The company has a market capitalization of $82.36 billion, a P/E ratio of 90.01 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Sell-side analysts anticipate that DoorDash, Inc. will post 2.39 EPS for the current fiscal year.

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.