DoorDash (NASDAQ:DASH) Reaches New 52-Week High – Here’s Why

DoorDash, Inc. (NASDAQ:DASH) shares hit a new 52-week high on Tuesday . The company traded as high as $215.25 and last traded at $212.35, with a volume of 473001 shares. The stock had previously closed at $213.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DASH shares. JMP Securities restated a “market outperform” rating and set a $200.00 price objective on shares of DoorDash in a research report on Thursday, February 6th. Oppenheimer boosted their target price on DoorDash from $180.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Bank of America lifted their price target on DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price target on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.45.

DoorDash Price Performance

The company has a market cap of $84.01 billion, a price-to-earnings ratio of 749.07 and a beta of 1.72. The business has a 50 day simple moving average of $181.54 and a 200 day simple moving average of $159.93.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $176.66, for a total transaction of $8,833,000.00. Following the transaction, the director now owns 16,176 shares of the company’s stock, valued at $2,857,652.16. This represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Keith Yandell sold 5,509 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.24, for a total value of $970,906.16. Following the transaction, the insider now directly owns 118,712 shares in the company, valued at $20,921,802.88. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 817,544 shares of company stock valued at $143,328,536 over the last 90 days. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

Large investors have recently made changes to their positions in the company. GeoWealth Management LLC increased its holdings in shares of DoorDash by 3.7% in the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company’s stock worth $240,000 after acquiring an additional 51 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after acquiring an additional 54 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of DoorDash by 34.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after acquiring an additional 69 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of DoorDash by 1.1% in the fourth quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after acquiring an additional 75 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of DoorDash by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.