Riverchase Wealth Management LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the company's stock, valued at approximately $336,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in DoorDash in the fourth quarter worth about $597,443,000. Raymond James Financial Inc. purchased a new stake in DoorDash during the 4th quarter valued at $146,094,000. Janus Henderson Group PLC increased its holdings in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock worth $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Amundi raised its stake in shares of DoorDash by 65.0% in the fourth quarter. Amundi now owns 1,407,884 shares of the company's stock worth $244,578,000 after purchasing an additional 554,675 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock valued at $570,135,000 after purchasing an additional 501,905 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.
DoorDash Stock Performance
NASDAQ DASH traded down $1.40 during trading on Tuesday, reaching $181.38. The company's stock had a trading volume of 1,175,378 shares, compared to its average volume of 4,110,945. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25. The business's fifty day moving average price is $192.17 and its 200-day moving average price is $172.76. The firm has a market cap of $76.19 billion, a price-to-earnings ratio of 670.41 and a beta of 1.70.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on DASH. FBN Securities assumed coverage on DoorDash in a research report on Friday. They issued an "outperform" rating and a $230.00 target price for the company. UBS Group boosted their target price on shares of DoorDash from $200.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Wolfe Research raised their price target on DoorDash from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Royal Bank of Canada lifted their price objective on DoorDash from $215.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC reissued a "buy" rating on shares of DoorDash in a report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and an average price target of $207.21.
Get Our Latest Stock Report on DoorDash
Insider Activity at DoorDash
In other DoorDash news, CFO Ravi Inukonda sold 14,715 shares of DoorDash stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $196.52, for a total value of $2,891,791.80. Following the completion of the sale, the chief financial officer now directly owns 338,055 shares of the company's stock, valued at approximately $66,434,568.60. The trade was a 4.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Tia Sherringham sold 12,088 shares of DoorDash stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the completion of the sale, the general counsel now owns 122,135 shares of the company's stock, valued at $24,848,365.75. This trade represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 351,445 shares of company stock valued at $62,258,130. 7.92% of the stock is owned by corporate insiders.
About DoorDash
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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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