Varma Mutual Pension Insurance Co Has $16.24 Million Position in DoorDash, Inc. $DASH

Varma Mutual Pension Insurance Co raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 9.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 59,700 shares of the company’s stock after purchasing an additional 5,100 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in DoorDash were worth $16,238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of DoorDash in the second quarter worth $1,185,576,000. Vanguard Group Inc. boosted its position in DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock valued at $10,153,768,000 after purchasing an additional 1,792,799 shares during the last quarter. Scge Management L.P. purchased a new position in DoorDash in the second quarter valued at about $267,463,000. Ninety One UK Ltd acquired a new position in DoorDash in the 3rd quarter worth about $259,154,000. Finally, AQR Capital Management LLC raised its stake in shares of DoorDash by 43.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,633,971 shares of the company’s stock worth $643,084,000 after purchasing an additional 797,849 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DASH. Susquehanna cut their price objective on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Benchmark increased their price target on shares of DoorDash from $315.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley lifted their price objective on shares of DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Citigroup reissued a “market outperform” rating on shares of DoorDash in a research report on Monday, November 24th. Finally, Stifel Nicolaus cut their target price on DoorDash from $253.00 to $224.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $280.24.

DoorDash Stock Down 8.2%

DoorDash stock opened at $161.14 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The firm has a fifty day moving average price of $214.55 and a two-hundred day moving average price of $234.65. The firm has a market cap of $69.45 billion, a price-to-earnings ratio of 81.80 and a beta of 1.77.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $204.59, for a total value of $3,068,850.00. Following the sale, the chief operating officer owned 874,130 shares of the company’s stock, valued at $178,838,256.70. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $181.28, for a total value of $226,600.00. Following the transaction, the director owned 32,252 shares of the company’s stock, valued at approximately $5,846,642.56. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 604,135 shares of company stock worth $124,509,080 over the last 90 days. Company insiders own 5.83% of the company’s stock.

DoorDash Company Profile

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.