Bridges Investment Management Inc. Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Bridges Investment Management Inc. purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,693 shares of the company's stock, valued at approximately $284,000.

Several other large investors have also made changes to their positions in the business. Rakuten Securities Inc. boosted its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Pittenger & Anderson Inc. bought a new position in shares of 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 valued at about $30,000. Princeton Global Asset Management LLC purchased a new position in shares of DoorDash during the fourth quarter valued at about $34,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of DoorDash in the fourth quarter worth about $36,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DASH. KeyCorp raised their price target on DoorDash from $180.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, January 9th. The Goldman Sachs Group raised their target price on shares of DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Benchmark upped their price target on shares of DoorDash from $180.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Piper Sandler reissued a "neutral" rating and issued a $210.00 price objective (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Finally, JMP Securities restated a "market outperform" rating and set a $200.00 target price on shares of DoorDash in a research report on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $206.52.

DoorDash Stock Up 1.0 %

Shares of NASDAQ DASH traded up $1.92 during mid-day trading on Wednesday, reaching $195.33. 1,571,262 shares of the company were exchanged, compared to its average volume of 3,602,202. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.24. The firm has a 50-day moving average of $185.95 and a 200 day moving average of $164.72. The stock has a market cap of $82.06 billion, a price-to-earnings ratio of 724.21 and a beta of 1.72.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares of the company's stock, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 15,198 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value 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 represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 576,536 shares of company stock worth $101,844,949. 7.92% of the stock is owned by corporate 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.