Advisory Resource Group Trims Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Advisory Resource Group cut its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 19.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,521 shares of the company’s stock after selling 1,561 shares during the period. Advisory Resource Group’s holdings in DoorDash were worth $1,094,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. raised its stake in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Princeton Global Asset Management LLC purchased a new position in DoorDash during the fourth quarter worth about $34,000. ORG Wealth Partners LLC purchased a new position in DoorDash during the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB raised its stake in DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after purchasing an additional 69 shares during the period. Finally, Hollencrest Capital Management purchased a new position in DoorDash during the third quarter worth about $54,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Piper Sandler upped their price objective on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Argus upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Loop Capital upped their price target on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of DoorDash in a research note on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $179.39.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $195.54 on Friday. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $199.17. The firm has a market capitalization of $81.23 billion, a PE ratio of -434.53, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The stock’s 50-day simple moving average is $176.85 and its 200-day simple moving average is $154.42.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the transaction, the chief financial officer now owns 366,993 shares in the company, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $255,375. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. Corporate insiders own 7.92% of the company’s stock.

About DoorDash

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.