Bank of Nova Scotia boosted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 840.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,419 shares of the company's stock after acquiring an additional 102,247 shares during the period. Bank of Nova Scotia's holdings in DoorDash were worth $19,194,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in DASH. Swedbank AB raised its position in shares of DoorDash by 3.3% in the fourth quarter. Swedbank AB now owns 171,055 shares of the company's stock valued at $28,694,000 after purchasing an additional 5,539 shares during the period. Sanctuary Advisors LLC grew its stake in DoorDash by 48.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company's stock valued at $1,522,000 after buying an additional 3,498 shares during the last quarter. LVW Advisors LLC bought a new position in DoorDash in the 4th quarter valued at about $236,000. Nordea Investment Management AB lifted its position in DoorDash by 37.5% during the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company's stock worth $294,701,000 after acquiring an additional 476,360 shares during the last quarter. Finally, Retireful LLC lifted its position in DoorDash by 121.4% during the fourth quarter. Retireful LLC now owns 9,621 shares of the company's stock worth $1,614,000 after acquiring an additional 5,275 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on DASH. Wedbush increased their target price on DoorDash from $160.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Truist Financial boosted their target price on shares of DoorDash from $217.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. UBS Group raised their price target on shares of DoorDash from $200.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Evercore ISI reissued an "outperform" rating on shares of DoorDash in a report on Monday, March 10th. Finally, Citigroup reaffirmed a "buy" rating on shares of DoorDash in a report on Saturday, March 8th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $207.39.
Check Out Our Latest Stock Analysis on DoorDash
DoorDash Price Performance
NASDAQ DASH traded up $1.97 during mid-day trading on Friday, reaching $180.49. 3,450,830 shares of the stock were exchanged, compared to its average volume of 4,237,245. The stock has a market cap of $75.82 billion, a P/E ratio of 668.48 and a beta of 1.69. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25. The stock has a 50 day simple moving average of $190.27 and a 200-day simple moving average of $175.33.
Insiders Place Their Bets
In related news, insider Keith Yandell sold 8,116 shares of the business'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 transaction, the insider now owns 105,162 shares in the company, valued at $21,395,208.90. The trade was a 7.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction 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. The trade was a 75.56 % 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.
About DoorDash
(
Free Report)
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.
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