Varma Mutual Pension Insurance Co Has $15.27 Million Stock Holdings in DoorDash, Inc. $DASH

by · The Cerbat Gem

Varma Mutual Pension Insurance Co raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH – Free Report) by 12.9% during the 4th quarter, HoldingsChannel reports. The firm owned 67,400 shares of the company’s stock after purchasing an additional 7,700 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in DoorDash were worth $15,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DASH. Vanguard Group Inc. grew its holdings in DoorDash by 3.7% during the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock valued at $11,617,484,000 after purchasing an additional 1,522,823 shares during the last quarter. Scge Management L.P. bought a new stake in shares of DoorDash in the second quarter valued at approximately $267,463,000. Invesco Ltd. boosted its position in shares of DoorDash by 18.2% in the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock valued at $1,728,667,000 after acquiring an additional 980,148 shares during the period. State Street Corp boosted its position in shares of DoorDash by 6.3% in the third quarter. State Street Corp now owns 15,296,624 shares of the company’s stock valued at $4,160,529,000 after acquiring an additional 909,125 shares during the period. Finally, Amundi boosted its position in shares of DoorDash by 66.8% in the third quarter. Amundi now owns 1,700,112 shares of the company’s stock valued at $478,990,000 after acquiring an additional 681,058 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other news, Director Stanley Tang sold 21,433 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $3,214,950.00. Following the completion of the sale, the director directly owned 19,279 shares in the company, valued at approximately $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 1,250 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $176.61, for a total value of $220,762.50. Following the completion of the sale, the director owned 31,002 shares of the company’s stock, valued at approximately $5,475,263.22. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 43,933 shares of company stock valued at $7,135,413. 5.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DASH has been the subject of several research reports. Benchmark increased their price objective on DoorDash from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Bank of America increased their price objective on DoorDash from $260.00 to $272.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Truist Financial increased their price objective on DoorDash from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Morgan Stanley reissued an “overweight” rating and issued a $275.00 price objective on shares of DoorDash in a research report on Thursday, February 19th. Finally, Stifel Nicolaus reduced their price objective on DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $259.31.

Get Our Latest Research Report on DASH

DoorDash Stock Down 1.9%

Shares of NASDAQ DASH opened at $172.57 on Tuesday. The stock has a market cap of $74.97 billion, a PE ratio of 81.40 and a beta of 1.87. The business has a fifty day moving average of $167.00 and a two-hundred day moving average of $199.09. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.41.

DoorDash (NASDAQ:DASH – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The firm’s revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. As a group, equities research analysts expect that DoorDash, Inc. will post 2.51 earnings per share for the current fiscal year.

DoorDash Profile

(Free Report)

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.

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