Van ECK Associates Corp Has $3.65 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Van ECK Associates Corp lowered its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 43.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,742 shares of the company's stock after selling 16,847 shares during the period. Van ECK Associates Corp's holdings in DoorDash were worth $3,647,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DASH. Rakuten Securities Inc. grew 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. Princeton Global Asset Management LLC bought a new position in shares of DoorDash during the fourth quarter worth about $34,000. ORG Wealth Partners LLC bought a new position in shares of DoorDash during the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB grew its position in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock worth $46,000 after acquiring an additional 69 shares during the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of DoorDash during the third quarter worth about $54,000. Institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on DASH. Benchmark upped their price objective on shares of DoorDash from $180.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. JMP Securities reaffirmed a "market outperform" rating and issued a $200.00 price objective on shares of DoorDash in a report on Thursday, February 6th. Royal Bank of Canada upped their price objective on shares of DoorDash from $215.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Truist Financial upped their price objective on shares of DoorDash from $217.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Bank of America upped their price objective on shares of DoorDash from $205.00 to $245.00 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $205.45.

DoorDash Stock Down 1.1 %

Shares of DASH traded down $2.31 during trading hours on Friday, reaching $199.94. The company's stock had a trading volume of 4,096,182 shares, compared to its average volume of 3,848,726. The firm has a market cap of $83.99 billion, a price-to-earnings ratio of 740.52 and a beta of 1.72. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.24. The company has a 50 day moving average of $182.56 and a two-hundred day moving average of $161.03.

Insider Activity

In other news, CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the transaction, the chief executive officer now owns 1,500 shares of the company's stock, valued at $265,515. This trade represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 812,035 shares of company stock worth $142,357,630 in the last 90 days. Company insiders own 7.92% of the company's stock.

DoorDash Company 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.