Discovery Value Fund Cuts Position in DoorDash, Inc. (NASDAQ:DASH)

Discovery Value Fund lowered its holdings in DoorDash, Inc. (NASDAQ:DASH) by 40.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 635,908 shares of the company’s stock after selling 436,798 shares during the period. DoorDash comprises about 61.3% of Discovery Value Fund’s portfolio, making the stock its largest holding. Discovery Value Fund’s holdings in DoorDash were worth $106,674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. bought a new position in shares of DoorDash in the 4th quarter valued at about $29,000. Denver PWM LLC acquired a new position in DoorDash during the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC bought a new position in DoorDash in the fourth quarter valued at approximately $34,000. ORG Wealth Partners LLC acquired a new position in shares of DoorDash during the 4th quarter worth approximately $36,000. Finally, IFP Advisors Inc raised its stake in shares of DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

DASH opened at $198.98 on Tuesday. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The firm has a market cap of $83.59 billion, a P/E ratio of 736.96 and a beta of 1.70. The business’s fifty day moving average is $190.33 and its 200-day moving average is $170.52.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DASH shares. Truist Financial boosted their target price on shares of DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their target price on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group lifted their price target on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Loop Capital upped their price objective on DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.52.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $169.32, for a total transaction of $1,185,240.00. Following the completion of the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $62,139,254.76. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total value of $18,454,356.20. Following the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,525. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 363,730 shares of company stock valued at $63,922,178 over the last quarter. 7.92% of the stock is owned by company insiders.

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.