Quinn Opportunity Partners LLC Trims Holdings in DoorDash, Inc. (NASDAQ:DASH)

Quinn Opportunity Partners LLC reduced its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 22.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,000 shares of the company’s stock after selling 23,825 shares during the quarter. DoorDash makes up approximately 1.0% of Quinn Opportunity Partners LLC’s investment portfolio, making the stock its 26th largest position. Quinn Opportunity Partners LLC’s holdings in DoorDash were worth $14,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Pittenger & Anderson Inc. bought a new stake in DoorDash during the 4th quarter valued at about $29,000. Denver PWM LLC purchased a new position in shares of DoorDash during the fourth quarter worth approximately $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $34,000. ORG Wealth Partners LLC purchased a new stake in shares of DoorDash in the fourth quarter valued at approximately $36,000. Finally, IFP Advisors Inc boosted its holdings in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Down 5.3 %

DoorDash stock opened at $178.52 on Friday. The stock has a 50-day moving average price of $190.55 and a 200 day moving average price of $175.08. The company has a market capitalization of $75.00 billion, a price-to-earnings ratio of 661.19 and a beta of 1.69. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total value of $3,616,600.00. Following the sale, the chief operating officer now owns 925,222 shares in the company, valued at $167,307,894.26. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction that occurred on Thursday, February 20th. The shares were 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 of the company’s stock, valued at approximately $3,006,584.10. This represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,523 shares of company stock worth $38,726,620. Company insiders own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research analyst reports. Roth Mkm lifted their target price on DoorDash from $165.00 to $193.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Barclays raised their target price on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Benchmark upped their price target on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of DoorDash in a research note on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $206.12.

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.