DnB Asset Management AS Boosts Stake in DoorDash, Inc. (NASDAQ:DASH)

DnB Asset Management AS boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 182.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 141,370 shares of the company’s stock after buying an additional 91,270 shares during the period. DnB Asset Management AS’s holdings in DoorDash were worth $23,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. IFP Advisors Inc grew its position in 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 stake in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after buying an additional 69 shares during the period. Avestar Capital LLC boosted its stake in shares of DoorDash by 1.1% during the fourth quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock valued at $1,110,000 after purchasing an additional 75 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of DoorDash by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock valued at $1,970,000 after acquiring an additional 84 shares during the period. Finally, Pallas Capital Advisors LLC raised its holdings in DoorDash by 3.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock worth $414,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $170.01, for a total value of $8,500,500.00. Following the sale, the director now directly owns 16,176 shares of the company’s stock, valued at $2,750,081.76. This trade represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 15,198 shares of DoorDash stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the transaction, the chief financial officer now directly owns 351,970 shares in the company, valued at $71,840,596.70. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 358,445 shares of company stock valued at $63,443,370 over the last three months. Corporate insiders own 7.92% of the company’s stock.

DoorDash Trading Down 5.9 %

Shares of DASH stock opened at $182.61 on Friday. The firm has a fifty day simple moving average of $192.00 and a two-hundred day simple moving average of $171.77. The firm has a market capitalization of $76.71 billion, a PE ratio of 676.33 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25.

Analysts Set New Price Targets

A number of research analysts have issued reports on DASH shares. Wells Fargo & Company raised their price target on shares of DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Roth Mkm increased their price target on DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their target price on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. Finally, Piper Sandler restated a “neutral” rating and issued a $210.00 target price (up from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $207.21.

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.