FBN Securities Begins Coverage on DoorDash (NASDAQ:DASH)

FBN Securities assumed coverage on shares of DoorDash (NASDAQ:DASH) in a report released on Friday, Marketbeat.com reports. The brokerage issued an outperform rating and a $230.00 price target on the stock.

Several other analysts have also issued reports on DASH. Susquehanna lifted their target price on shares of DoorDash from $180.00 to $235.00 and gave the company a “positive” rating in a research report on Thursday, February 13th. Benchmark boosted their price objective on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Argus upgraded DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group boosted their price target on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Bank of America raised their price objective on DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $207.21.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $182.61 on Friday. The business’s 50 day moving average price is $192.00 and its 200-day moving average price is $171.77. DoorDash has a 1 year low of $99.32 and a 1 year high of $215.25. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 676.33 and a beta of 1.70.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.34, for a total value of $8,517,000.00. Following the completion of the transaction, the director now owns 35,413 shares in the company, valued at $6,032,250.42. The trade was a 58.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, 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. Over the last 90 days, insiders have sold 358,445 shares of company stock valued at $63,443,370. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently modified their holdings of DASH. GeoWealth Management LLC raised its stake in DoorDash by 3.7% in the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company’s stock valued at $240,000 after buying an additional 51 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after acquiring an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of DoorDash by 34.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after acquiring an additional 69 shares in the last quarter. Avestar Capital LLC lifted its stake in DoorDash by 1.1% during the fourth quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after purchasing an additional 75 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after purchasing an additional 84 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.