New York Life Investment Management LLC Sells 893 Shares of DoorDash, Inc. (NASDAQ:DASH)

New York Life Investment Management LLC reduced its holdings in DoorDash, Inc. (NASDAQ:DASH) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,607 shares of the company’s stock after selling 893 shares during the quarter. New York Life Investment Management LLC’s holdings in DoorDash were worth $941,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DASH. International Assets Investment Management LLC acquired a new position in shares of DoorDash during the third quarter worth about $1,772,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of DoorDash by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,660 shares of the company’s stock valued at $1,664,000 after buying an additional 942 shares during the last quarter. US Bancorp DE lifted its position in shares of DoorDash by 8.0% in the third quarter. US Bancorp DE now owns 33,122 shares of the company’s stock valued at $4,727,000 after buying an additional 2,456 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of DoorDash by 1,283.9% in the third quarter. Farther Finance Advisors LLC now owns 9,092 shares of the company’s stock valued at $1,298,000 after buying an additional 8,435 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of DoorDash in the third quarter valued at approximately $250,000. 90.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Andy Fang sold 1,398 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $284,423.10. Following the transaction, the director now owns 14,778 shares in the company, valued at $3,006,584.10. The trade was a 8.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 15,198 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total value of $3,102,063.78. Following the completion of the transaction, the chief financial officer now owns 351,970 shares in the company, valued at $71,840,596.70. The trade was a 4.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 576,536 shares of company stock valued at $101,844,949. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

Shares of DoorDash stock opened at $198.10 on Tuesday. The business has a 50-day simple moving average of $185.52 and a 200 day simple moving average of $164.27. The firm has a market capitalization of $83.22 billion, a price-to-earnings ratio of 733.70 and a beta of 1.72. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.24.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DASH. BMO Capital Markets reiterated an “outperform” rating and set a $240.00 target price (up previously from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. Wedbush raised their target price on DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Needham & Company LLC raised their target price on DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Piper Sandler reissued a “neutral” rating and set a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Finally, Citigroup raised their price objective on DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.52.

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.