Victory Capital Management Inc. Increases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Victory Capital Management Inc. increased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 265,905 shares of the company’s stock after buying an additional 9,579 shares during the period. Victory Capital Management Inc.’s holdings in DoorDash were worth $44,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. IFP Advisors Inc increased its stake in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after acquiring an additional 69 shares during the period. Avestar Capital LLC raised its stake in DoorDash by 1.1% during the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock valued at $1,110,000 after acquiring an additional 75 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in DoorDash by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after acquiring an additional 84 shares during the period. Finally, Pallas Capital Advisors LLC grew its stake in shares of DoorDash by 3.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $176.66, for a total value of $8,833,000.00. Following the completion of the sale, the director now owns 16,176 shares in the company, valued at $2,857,652.16. The trade was a 75.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $268,110. The trade was 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 572,062 shares of company stock valued at $101,051,440. Company insiders own 7.92% of the company’s stock.

DoorDash Trading Down 1.1 %

NASDAQ:DASH opened at $178.08 on Friday. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.24. The firm has a market cap of $74.81 billion, a price-to-earnings ratio of 659.56 and a beta of 1.70. The company’s 50-day moving average is $186.78 and its two-hundred day moving average is $165.64.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DASH. Bank of America upped their price target on DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada upped their price objective on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $210.00 target price (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Needham & Company LLC lifted their price objective on DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $206.52.

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.