DoorDash (NASDAQ:DASH) Now Covered by FBN Securities

FBN Securities initiated coverage on shares of DoorDash (NASDAQ:DASH) in a research note issued to investors on Friday morning, MarketBeat reports. The brokerage issued an outperform rating and a $230.00 target price on the stock.

A number of other brokerages have also issued reports on DASH. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a report on Thursday, February 6th. UBS Group upped their target price on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating on shares of DoorDash in a research note on Monday, March 3rd. Barclays upped their price objective on shares of DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $207.21.

DoorDash Price Performance

Shares of DASH opened at $182.61 on Friday. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 676.33 and a beta of 1.70. The company has a 50-day moving average of $192.00 and a 200 day moving average of $171.77. DoorDash has a 1-year low of $99.32 and a 1-year high of $215.25.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 14,715 shares of DoorDash stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the completion of the sale, the chief financial officer now directly owns 338,055 shares in the company, valued at approximately $66,434,568.60. The trade was a 4.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Keith Yandell sold 8,116 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the completion of the sale, the insider now directly owns 105,162 shares in the company, valued at $21,395,208.90. This trade represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 358,445 shares of company stock valued at $63,443,370 over the last quarter. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in DoorDash by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after acquiring an additional 317,502 shares in the last quarter. Capital World Investors grew its stake in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. State Street Corp increased its holdings in shares of DoorDash by 3.8% during the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after purchasing an additional 272,659 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after purchasing an additional 700,465 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after buying an additional 949,414 shares in the last quarter. Hedge funds and other institutional investors 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.