Trexquant Investment LP cut its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 79.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,381 shares of the company's stock after selling 121,529 shares during the quarter. Trexquant Investment LP's holdings in DoorDash were worth $5,432,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of DASH. Pittenger & Anderson Inc. bought a new position in shares of DoorDash during the 4th quarter worth approximately $29,000. Denver PWM LLC bought a new stake in DoorDash during the fourth quarter worth $30,000. Princeton Global Asset Management LLC purchased a new position in DoorDash in the fourth quarter worth $34,000. ORG Wealth Partners LLC bought a new position in DoorDash in the 4th quarter valued at $36,000. Finally, IFP Advisors Inc increased its position in shares of 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 purchasing an additional 54 shares during the last quarter. Institutional investors own 90.64% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on DASH shares. FBN Securities started coverage on shares of DoorDash in a research report on Friday, March 28th. They set an "outperform" rating and a $230.00 price target for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $200.00 price target on shares of DoorDash in a report on Thursday, February 6th. BMO Capital Markets reissued an "outperform" rating and set a $240.00 price objective (up from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Morgan Stanley boosted their target price on DoorDash from $160.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Finally, Evercore ISI reiterated an "outperform" rating on shares of DoorDash in a research note on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $206.12.
Get Our Latest Research Report on DoorDash
Insider Buying and Selling
In other DoorDash news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the sale, the director now owns 18,285 shares in the company, valued at approximately $3,313,424.85. This represents a 71.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the transaction, the chief operating officer now owns 887,348 shares of the company's stock, valued at $164,674,041.84. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,523 shares of company stock valued at $47,227,120 over the last three months. Corporate insiders own 7.92% of the company's stock.
DoorDash Price Performance
DASH traded down $12.97 during midday trading on Thursday, reaching $175.61. 1,503,387 shares of the company's stock traded hands, compared to its average volume of 4,218,719. The firm has a fifty day moving average of $190.79 and a two-hundred day moving average of $174.83. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The stock has a market capitalization of $73.77 billion, a price-to-earnings ratio of 648.41 and a beta of 1.69.
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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