Sage Rhino Capital LLC Invests $723,000 in DoorDash, Inc. (NASDAQ:DASH)

Sage Rhino Capital LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,312 shares of the company's stock, valued at approximately $723,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. DJE Kapital AG purchased a new position in shares of DoorDash during the fourth quarter worth about $2,715,000. Plato Investment Management Ltd grew its holdings in shares of DoorDash by 2.0% during the fourth quarter. Plato Investment Management Ltd now owns 8,946 shares of the company's stock worth $1,506,000 after buying an additional 174 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of DoorDash during the fourth quarter worth about $105,000. Jones Financial Companies Lllp grew its holdings in shares of DoorDash by 36.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company's stock worth $323,000 after buying an additional 512 shares during the last quarter. Finally, Norden Group LLC grew its holdings in shares of DoorDash by 5.1% during the fourth quarter. Norden Group LLC now owns 2,637 shares of the company's stock worth $442,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research reports. Argus raised DoorDash from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Needham & Company LLC lifted their price objective on DoorDash from $180.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. The Goldman Sachs Group lifted their price objective on DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Citigroup lifted their price objective on DoorDash from $211.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Wolfe Research lifted their price objective on DoorDash from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $206.52.

DoorDash Price Performance

NASDAQ DASH traded up $1.67 during trading hours on Wednesday, hitting $195.08. The company had a trading volume of 2,788,770 shares, compared to its average volume of 3,632,853. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.24. The company has a market capitalization of $81.95 billion, a price-to-earnings ratio of 722.52 and a beta of 1.72. The firm's 50 day moving average is $186.41 and its 200 day moving average is $164.94.

Insider Activity

In other news, Director Andy Fang sold 1,398 shares of the stock in a transaction dated Thursday, February 20th. The shares were 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 trade represents a 8.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Keith Yandell sold 4,474 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $177.36, for a total transaction of $793,508.64. Following the transaction, the insider now directly owns 114,238 shares in the company, valued at $20,261,251.68. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 576,536 shares of company stock worth $101,844,949 over the last ninety days. 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.