Ostrum Asset Management Cuts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Ostrum Asset Management lowered its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,475 shares of the company's stock after selling 2,975 shares during the period. DoorDash makes up approximately 2.6% of Ostrum Asset Management's investment portfolio, making the stock its 18th biggest position. Ostrum Asset Management's holdings in DoorDash were worth $30,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DASH. Pittenger & Anderson Inc. bought a new position in DoorDash during the 4th quarter valued at about $29,000. Denver PWM LLC bought a new position in shares of DoorDash during the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash in the fourth quarter worth approximately $34,000. ORG Wealth Partners LLC bought a new stake in shares of DoorDash during the 4th quarter worth approximately $36,000. Finally, IFP Advisors Inc boosted its holdings in DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after acquiring an additional 54 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the sale, the chief financial officer now directly owns 366,993 shares of the company's stock, valued at approximately $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the transaction, the director now directly owns 14,778 shares of the company's stock, valued at $3,006,584.10. The trade was a 8.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,511 shares of company stock valued at $30,308,544. Company insiders own 7.92% of the company's stock.

DoorDash Trading Up 2.8 %

Shares of DASH stock traded up $4.88 during trading hours on Wednesday, hitting $181.49. The company's stock had a trading volume of 2,588,987 shares, compared to its average volume of 4,247,349. The company has a 50 day moving average of $187.10 and a 200 day moving average of $177.12. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The stock has a market cap of $76.24 billion, a PE ratio of 672.19 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DASH. Susquehanna lifted their target price on DoorDash from $180.00 to $235.00 and gave the stock a "positive" rating in a research report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating on shares of DoorDash in a research report on Monday, March 3rd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $240.00 price target (up previously from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $208.88.

DoorDash 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.