DnB Asset Management AS Grows Holdings in DoorDash, Inc. (NASDAQ:DASH)

DnB Asset Management AS increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 182.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,370 shares of the company’s stock after purchasing an additional 91,270 shares during the quarter. DnB Asset Management AS’s holdings in DoorDash were worth $23,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $29,000. Denver PWM LLC acquired a new stake in DoorDash in the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC purchased a new stake in DoorDash during the 4th quarter valued at about $34,000. ORG Wealth Partners LLC acquired a new position in DoorDash during the fourth quarter valued at $36,000. Finally, IFP Advisors Inc grew its holdings in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after acquiring an additional 54 shares during the period. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Loop Capital boosted their price target on shares of DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, February 24th. KeyCorp boosted their target price on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Evercore ISI restated an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. Morgan Stanley raised their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised their target price on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $207.21.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $182.61 on Friday. The firm has a 50-day moving average of $192.00 and a 200 day moving average of $171.77. The stock has a market cap of $76.71 billion, a P/E ratio of 676.33 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $169.32, for a total value of $1,185,240.00. Following the transaction, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith Yandell sold 8,116 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the transaction, the insider now owns 105,162 shares of the company’s stock, valued at $21,395,208.90. This trade represents a 7.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 358,445 shares of company stock worth $63,443,370. Insiders own 7.92% of the company’s stock.

DoorDash Company Profile

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.