Norges Bank Invests $1.19 Billion in DoorDash, Inc. $DASH

Norges Bank bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,809,442 shares of the company’s stock, valued at approximately $1,185,576,000.

A number of other large investors also recently added to or reduced their stakes in the business. Saudi Central Bank purchased a new stake in DoorDash during the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in shares of DoorDash during the first quarter worth $26,000. Pacific Center for Financial Services purchased a new position in DoorDash during the first quarter valued at $27,000. GFG Capital LLC purchased a new position in DoorDash during the second quarter valued at $30,000. Finally, Harbour Investments Inc. increased its holdings in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $270.60, for a total value of $8,118,000.00. Following the completion of the sale, the chief operating officer owned 914,547 shares of the company’s stock, valued at $247,476,418.20. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alfred Lin bought 389,047 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average cost of $193.81 per share, for a total transaction of $75,401,199.07. Following the purchase, the director owned 389,047 shares of the company’s stock, valued at approximately $75,401,199.07. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 756,834 shares of company stock valued at $174,539,246 in the last quarter. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

Shares of DoorDash stock opened at $198.50 on Friday. The stock has a market cap of $85.55 billion, a price-to-earnings ratio of 100.76 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. The stock has a 50 day moving average price of $241.74 and a 200-day moving average price of $238.22. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50.

DoorDash (NASDAQ:DASH) last issued its quarterly 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 the consensus estimate of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. Equities analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

DASH has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of DoorDash from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Susquehanna cut their price target on DoorDash from $300.00 to $250.00 and set a “positive” rating for the company in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a research note on Wednesday, October 8th. Stifel Nicolaus lowered their target price on DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. Finally, Wall Street Zen lowered shares of DoorDash from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $275.62.

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.