DoorDash (NASDAQ:DASH) Shares Up 3.9% - What's Next?

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) shares rose 3.9% on Wednesday . The stock traded as high as $187.63 and last traded at $189.51. Approximately 368,859 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 4,115,133 shares. The stock had previously closed at $182.42.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DASH shares. Morgan Stanley lifted their price target on shares of DoorDash from $160.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Roth Mkm upped their target price on DoorDash from $165.00 to $193.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. JMP Securities reiterated a "market outperform" rating and issued a $200.00 price target on shares of DoorDash in a report on Thursday, February 6th. Oppenheimer restated a "hold" rating on shares of DoorDash in a report on Monday, March 10th. Finally, Royal Bank of Canada increased their target price on DoorDash from $215.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $207.00.

DoorDash Stock Up 0.7 %

The company has a market capitalization of $69.04 billion, a price-to-earnings ratio of 608.69 and a beta of 1.69. The stock has a fifty day moving average price of $191.90 and a two-hundred day moving average price of $174.06.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $170.01, for a total transaction of $8,500,500.00. Following the completion of the transaction, the director now owns 16,176 shares in the company, valued at approximately $2,750,081.76. The trade was a 75.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Keith Yandell sold 8,116 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the completion of the sale, the insider now directly owns 105,162 shares of the company's stock, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,523 shares of company stock valued at $47,227,120 over the last ninety days. Corporate insiders own 7.92% of the company's stock.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in DASH. Versant Capital Management Inc raised its position in shares of DoorDash by 185.6% during the first quarter. Versant Capital Management Inc now owns 2,570 shares of the company's stock valued at $470,000 after buying an additional 1,670 shares during the last quarter. Kera Capital Partners Inc. lifted its holdings in DoorDash by 28.4% in the first quarter. Kera Capital Partners Inc. now owns 1,804 shares of the company's stock valued at $330,000 after buying an additional 399 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in DoorDash by 80.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 492 shares of the company's stock worth $90,000 after acquiring an additional 220 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of DoorDash by 234.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 38,990 shares of the company's stock valued at $6,541,000 after acquiring an additional 27,330 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in DoorDash during the fourth quarter worth about $16,876,000. Institutional investors and hedge funds own 90.64% 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.