Convergence Investment Partners LLC Purchases Shares of 3,836 DoorDash, Inc. (NASDAQ:DASH)

Convergence Investment Partners LLC acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,836 shares of the company's stock, valued at approximately $643,000.

A number of other large investors have also recently added to or reduced their stakes in DASH. Blue Trust Inc. boosted its stake in DoorDash by 289.0% during the 3rd quarter. Blue Trust Inc. now owns 2,373 shares of the company's stock valued at $339,000 after acquiring an additional 1,763 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of DoorDash by 36.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,980 shares of the company's stock worth $568,000 after buying an additional 1,058 shares during the last quarter. Signaturefd LLC lifted its position in shares of DoorDash by 10.9% in the 3rd quarter. Signaturefd LLC now owns 4,885 shares of the company's stock worth $697,000 after buying an additional 480 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of DoorDash in the 3rd quarter worth about $1,772,000. Finally, IFM Investors Pty Ltd lifted its position in shares of DoorDash by 9.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 60,795 shares of the company's stock worth $8,677,000 after buying an additional 5,032 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on DASH. Argus raised shares of DoorDash from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Wedbush increased their price objective on shares of DoorDash from $160.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $240.00 price objective (up previously from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Barclays increased their price objective on shares of DoorDash from $163.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC increased their price objective on shares of DoorDash from $180.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and a consensus target price of $205.45.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the business's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following the completion of the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 115,432 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company's stock, valued at $265,515. The trade was a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 812,035 shares of company stock worth $142,357,630. 7.92% of the stock is owned by insiders.

DoorDash Price Performance

DASH traded down $2.31 during midday trading on Friday, hitting $199.94. 4,096,182 shares of the company's stock traded hands, compared to its average volume of 3,848,726. The company has a market cap of $83.99 billion, a PE ratio of 740.52 and a beta of 1.72. The stock's fifty day simple moving average is $182.56 and its 200-day simple moving average is $161.03. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.24.

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.