Nordea Investment Management AB lifted its position in shares of DoorDash, Inc. (NYSE:DASH – Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,494 shares of the company’s stock after acquiring an additional 177 shares during the quarter. Nordea Investment Management AB’s holdings in DoorDash were worth $1,032,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in shares of DoorDash by 46.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 335,909 shares of the company’s stock worth $21,350,000 after acquiring an additional 107,145 shares in the last quarter. Xponance Inc. raised its position in shares of DoorDash by 0.7% during the 1st quarter. Xponance Inc. now owns 31,236 shares of the company’s stock worth $1,985,000 after purchasing an additional 219 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of DoorDash during the 1st quarter worth approximately $911,000. Raymond James & Associates acquired a new position in shares of DoorDash during the 1st quarter worth approximately $219,000. Finally, Elk River Wealth Management LLC acquired a new position in shares of DoorDash during the 1st quarter worth approximately $254,000. Hedge funds and other institutional investors own 75.09% of the company’s stock.
DoorDash Trading Up 1.2 %
Shares of DoorDash stock opened at $77.95 on Friday. The company has a fifty day moving average price of $69.79 and a 200 day moving average price of $61.63. DoorDash, Inc. has a twelve month low of $41.37 and a twelve month high of $87.00. The stock has a market cap of $30.29 billion, a price-to-earnings ratio of -21.96 and a beta of 1.57.
Insider Buying and Selling at DoorDash
In other DoorDash news, insider Keith Yandell sold 9,172 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $66.88, for a total value of $613,423.36. Following the completion of the transaction, the insider now directly owns 244,405 shares of the company’s stock, valued at approximately $16,345,806.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other DoorDash news, insider Keith Yandell sold 9,172 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $66.88, for a total value of $613,423.36. Following the completion of the transaction, the insider now directly owns 244,405 shares of the company’s stock, valued at approximately $16,345,806.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Tia Sherringham sold 12,243 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $66.86, for a total transaction of $818,566.98. Following the transaction, the general counsel now directly owns 286,320 shares in the company, valued at approximately $19,143,355.20. The disclosure for this sale can be found here. Insiders sold a total of 958,719 shares of company stock valued at $63,341,018 in the last ninety days. Insiders own 9.59% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on DASH shares. Gordon Haskett downgraded DoorDash from a “buy” rating to a “hold” rating and cut their price objective for the stock from $73.00 to $72.00 in a research report on Wednesday, June 14th. Wells Fargo & Company began coverage on DoorDash in a research report on Wednesday, June 7th. They set an “equal weight” rating and a $70.00 price objective for the company. Oppenheimer boosted their price target on DoorDash from $80.00 to $85.00 in a report on Friday, May 5th. Bank of America boosted their price target on DoorDash from $80.00 to $82.00 in a report on Friday, May 5th. Finally, Wedbush began coverage on DoorDash in a report on Monday, June 5th. They issued a “neutral” rating and a $75.00 price target for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.48.
About DoorDash
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.
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