Federated Hermes Inc. Increases Holdings in DoorDash, Inc. (NASDAQ:DASH)

Federated Hermes Inc. raised its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 38.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 767,863 shares of the company's stock after purchasing an additional 215,060 shares during the period. Federated Hermes Inc. owned approximately 0.18% of DoorDash worth $128,815,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pittenger & Anderson Inc. bought a new stake in shares of DoorDash in the fourth quarter valued at approximately $29,000. Denver PWM LLC acquired a new position in DoorDash in the 4th quarter valued at $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash during the 4th quarter valued at $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash during the 4th quarter worth $36,000. Finally, IFP Advisors Inc increased its position in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DASH. UBS Group upped their price objective 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. Piper Sandler reaffirmed a "neutral" rating and set a $210.00 price target (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on shares of DoorDash from $198.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 3rd. Loop Capital boosted their price objective on shares of DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, KeyCorp raised their target price on DoorDash from $180.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, January 9th. Ten investment 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $206.12.

DoorDash Trading Up 0.0 %

NASDAQ DASH traded up $0.01 on Friday, hitting $178.53. 1,344,402 shares of the company were exchanged, compared to its average volume of 4,222,540. The company has a market cap of $75.00 billion, a PE ratio of 660.89 and a beta of 1.69. The stock has a fifty day moving average of $190.55 and a 200-day moving average of $175.08. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month 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 on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the completion of the sale, the director now owns 14,778 shares in the company, valued at $3,006,584.10. This represents a 8.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 15,198 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the transaction, the chief financial officer now directly owns 351,970 shares in the company, valued at $71,840,596.70. The trade was a 4.14 % 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 valued at $38,726,620. Corporate 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.