Envestnet Asset Management Inc. Purchases 5,617 Shares of DoorDash, Inc. (NASDAQ:DASH)

Envestnet Asset Management Inc. raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,012 shares of the company's stock after purchasing an additional 5,617 shares during the period. Envestnet Asset Management Inc.'s holdings in DoorDash were worth $15,435,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB lifted its holdings in shares of DoorDash by 3.3% during the 4th quarter. Swedbank AB now owns 171,055 shares of the company's stock worth $28,694,000 after acquiring an additional 5,539 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company's stock valued at $1,522,000 after purchasing an additional 3,498 shares during the last quarter. LVW Advisors LLC purchased a new position in shares of DoorDash during the 4th quarter valued at about $236,000. Nordea Investment Management AB lifted its position in DoorDash by 37.5% in the 4th quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company's stock worth $294,701,000 after buying an additional 476,360 shares during the last quarter. Finally, Retireful LLC boosted its stake in DoorDash by 121.4% in the fourth quarter. Retireful LLC now owns 9,621 shares of the company's stock worth $1,614,000 after buying an additional 5,275 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DASH. Wells Fargo & Company boosted their price objective on shares of DoorDash from $198.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating on shares of DoorDash in a research note on Monday, March 3rd. JMP Securities reaffirmed a "market outperform" rating and issued a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. Oppenheimer reissued a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. Finally, Loop Capital upped their price target on shares of DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, February 24th. Ten investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $208.88.

DoorDash Trading Up 1.0 %

Shares of NASDAQ:DASH traded up $1.85 during mid-day trading on Friday, reaching $181.24. The stock had a trading volume of 2,495,257 shares, compared to its average volume of 4,249,224. The company has a market cap of $76.14 billion, a P/E ratio of 671.26 and a beta of 1.69. The business's 50 day moving average price is $189.13 and its 200 day moving average price is $176.17. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25.

Insiders Place Their Bets

In other news, Director Andy Fang sold 1,398 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 $284,423.10. Following the transaction, the director now owns 14,778 shares of the company's stock, valued at approximately $3,006,584.10. This represents a 8.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was 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 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 disclosure for this sale can be found here. Insiders have sold 158,511 shares of company stock valued at $30,308,544 over the last ninety days. 7.92% of the stock is owned by insiders.

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.