NewEdge Advisors LLC Boosts Stake in DoorDash, Inc. (NASDAQ:DASH)

NewEdge Advisors LLC lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,068 shares of the company’s stock after buying an additional 514 shares during the period. NewEdge Advisors LLC’s holdings in DoorDash were worth $1,018,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DASH. Vanguard Group Inc. boosted its position in DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after purchasing an additional 317,502 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after buying an additional 1,869,866 shares during the last quarter. Geode Capital Management LLC grew its position in DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock valued at $763,198,000 after buying an additional 86,667 shares during the period. Finally, Norges Bank purchased a new stake in DoorDash during the fourth quarter worth about $597,443,000. 90.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Keith Yandell sold 8,116 shares of DoorDash stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $1,651,200.20. Following the transaction, the insider now owns 105,162 shares in the company, valued at $21,395,208.90. This trade represents a 7.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the sale, the director now directly owns 18,285 shares of the company’s stock, valued at $3,313,424.85. This represents a 71.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,086 shares of company stock worth $26,430,884 in the last quarter. 7.92% of the stock is owned by insiders.

DoorDash Stock Up 3.3 %

Shares of DASH stock opened at $187.22 on Friday. The business has a 50-day moving average price of $186.57 and a two-hundred day moving average price of $177.44. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The firm has a market cap of $78.65 billion, a P/E ratio of 693.41 and a beta of 1.69.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and set a $210.00 target price (up from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. Barclays increased their price objective on DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Cantor Fitzgerald lowered their target price on DoorDash from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. FBN Securities started coverage on DoorDash in a research note on Friday, March 28th. They set an “outperform” rating and a $230.00 price target for the company. Finally, Truist Financial boosted their price objective on DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $208.88.

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.