Pictet Asset Management Holding SA increased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 172,062 shares of the company's stock after buying an additional 18,401 shares during the quarter. Pictet Asset Management Holding SA's holdings in DoorDash were worth $28,863,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of DASH. Swedbank AB raised its stake in shares of DoorDash by 3.3% during the fourth quarter. Swedbank AB now owns 171,055 shares of the company's stock worth $28,694,000 after purchasing an additional 5,539 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of DoorDash by 48.8% during the third 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 period. LVW Advisors LLC bought a new stake in shares of DoorDash in the fourth quarter worth $236,000. Nordea Investment Management AB lifted its stake in DoorDash by 37.5% during the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company's stock worth $294,701,000 after purchasing an additional 476,360 shares during the last quarter. Finally, Retireful LLC grew its stake in DoorDash by 121.4% during the 4th quarter. Retireful LLC now owns 9,621 shares of the company's stock worth $1,614,000 after buying an additional 5,275 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on DASH. Benchmark raised their price target on shares of DoorDash from $180.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Morgan Stanley lifted their price objective on DoorDash from $160.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Oppenheimer restated a "hold" rating on shares of DoorDash in a report on Monday, March 10th. Loop Capital boosted their price target on DoorDash from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Finally, UBS Group raised their price objective on DoorDash from $200.00 to $204.00 and gave the company a "neutral" 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $207.29.
Read Our Latest Analysis on DoorDash
Insiders Place Their Bets
In other DoorDash news, Director Andy Fang sold 50,000 shares of the company's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the sale, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Tia Sherringham sold 12,088 shares of the 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 $2,459,303.60. Following the sale, the general counsel now directly owns 122,135 shares of the company's stock, valued at approximately $24,848,365.75. This trade represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,113 shares of company stock valued at $38,998,374 in the last ninety days. Insiders own 7.92% of the company's stock.
DoorDash Price Performance
DoorDash stock traded down $13.80 during trading hours on Thursday, hitting $175.45. The stock had a trading volume of 4,075,238 shares, compared to its average volume of 4,140,097. The stock's fifty day moving average is $192.48 and its two-hundred day moving average is $173.23. The stock has a market capitalization of $73.71 billion, a price-to-earnings ratio of 648.52 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25.
DoorDash Company Profile
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Free Report)
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.
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