DoorDash, Inc. (NASDAQ:DASH) Shares Purchased by Norden Group LLC

Norden Group LLC lifted its position in DoorDash, Inc. (NASDAQ:DASH) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,637 shares of the company’s stock after acquiring an additional 129 shares during the period. Norden Group LLC’s holdings in DoorDash were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in DoorDash during the third quarter worth $1,772,000. Wealth Enhancement Advisory Services LLC boosted its stake in DoorDash by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,660 shares of the company’s stock worth $1,664,000 after buying an additional 942 shares during the last quarter. US Bancorp DE boosted its stake in DoorDash by 8.0% during the third quarter. US Bancorp DE now owns 33,122 shares of the company’s stock worth $4,727,000 after buying an additional 2,456 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in DoorDash by 1,283.9% during the third quarter. Farther Finance Advisors LLC now owns 9,092 shares of the company’s stock worth $1,298,000 after buying an additional 8,435 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in DoorDash during the third quarter worth $250,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DASH shares. Morgan Stanley boosted their price objective on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America lifted their target price on DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Roth Mkm lifted their target price on DoorDash from $165.00 to $193.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted their target price on DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.52.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $176.66, for a total transaction of $8,833,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares of the company’s stock, valued at approximately $2,857,652.16. This represents a 75.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $178.74, for a total value of $19,363,261.68. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $268,110. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 576,536 shares of company stock worth $101,844,949 in the last quarter. 7.92% of the stock is owned by company insiders.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $198.10 on Tuesday. The stock’s 50-day moving average is $185.52 and its two-hundred day moving average is $164.27. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.24. The company has a market cap of $83.22 billion, a price-to-earnings ratio of 733.70 and a beta of 1.72.

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.