Advisory Services Network LLC Trims Position in DoorDash, Inc. (NASDAQ:DASH)

Advisory Services Network LLC lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 47.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,380 shares of the company's stock after selling 5,655 shares during the quarter. Advisory Services Network LLC's holdings in DoorDash were worth $1,070,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DASH. Pittenger & Anderson Inc. bought a new position in DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC acquired a new position in shares of DoorDash in the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC acquired a new stake in DoorDash during the 4th quarter worth approximately $34,000. ORG Wealth Partners LLC bought a new position in 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 buying an additional 54 shares during the period. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Up 1.0 %

Shares of DASH stock traded up $1.85 during trading hours on Friday, hitting $181.24. 2,495,257 shares of the company's stock traded hands, compared to its average volume of 4,249,224. The stock's fifty day simple moving average is $189.13 and its two-hundred day simple moving average is $176.17. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The stock has a market cap of $76.14 billion, a price-to-earnings ratio of 671.26 and a beta of 1.69.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DASH shares. Mizuho upped their target price on shares of DoorDash from $200.00 to $222.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. JMP Securities reissued a "market outperform" rating and set a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC restated a "buy" rating on shares of DoorDash in a research note on Monday, March 3rd. Finally, Wells Fargo & Company raised their target price on shares of DoorDash from $198.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and a consensus target price of $208.88.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares of the company's stock, valued at approximately $3,313,424.85. This represents a 71.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $185.58, for a total value of $3,711,600.00. Following the sale, the chief operating officer now directly owns 887,348 shares in the company, valued at $164,674,041.84. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,511 shares of company stock valued at $30,308,544. Insiders own 7.92% of the company's stock.

About DoorDash

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.