Discovery Value Fund Sells 436,798 Shares of DoorDash, Inc. (NASDAQ:DASH)

Discovery Value Fund lessened its holdings in DoorDash, Inc. (NASDAQ:DASH) by 40.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 635,908 shares of the company’s stock after selling 436,798 shares during the period. DoorDash makes up 61.3% of Discovery Value Fund’s portfolio, making the stock its biggest position. Discovery Value Fund owned about 0.15% of DoorDash worth $106,674,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash in the 4th quarter valued at $29,000. Denver PWM LLC bought a new position in DoorDash during the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC bought a new position in DoorDash during the 4th quarter valued at about $34,000. ORG Wealth Partners LLC acquired a new position in DoorDash in the fourth quarter valued at about $36,000. Finally, IFP Advisors Inc grew its stake in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Up 4.4 %

DASH stock opened at $198.98 on Tuesday. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25. The firm has a market cap of $83.59 billion, a PE ratio of 736.96 and a beta of 1.70. The business’s 50-day moving average price is $190.33 and its two-hundred day moving average price is $170.52.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DASH. Barclays boosted their target price on DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Morgan Stanley boosted their price objective on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Evercore ISI restated an “outperform” rating on shares of DoorDash in a report on Monday, March 10th. Wells Fargo & Company lifted their price target on DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, Citigroup reissued a “buy” rating on shares of DoorDash in a report on Saturday, March 8th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.52.

Insider Transactions at DoorDash

In related news, insider Keith Yandell sold 8,116 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $1,651,200.20. Following the sale, the insider now directly owns 105,162 shares of the company’s stock, valued at approximately $21,395,208.90. The trade was a 7.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total value of $18,454,356.20. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,525. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 363,730 shares of company stock valued at $63,922,178 over the last 90 days. 7.92% of the stock is owned by company insiders.

DoorDash 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.