Entropy Technologies LP Increases Position in DoorDash, Inc. (NASDAQ:DASH)

Entropy Technologies LP grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 379.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,691 shares of the company’s stock after buying an additional 41,697 shares during the quarter. DoorDash accounts for approximately 0.9% of Entropy Technologies LP’s portfolio, making the stock its 8th largest holding. Entropy Technologies LP’s holdings in DoorDash were worth $8,839,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its stake in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after buying an additional 69 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock valued at $1,970,000 after buying an additional 84 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in shares of DoorDash by 3.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after buying an additional 88 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of DoorDash by 1.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 6,966 shares of the company’s stock valued at $1,169,000 after buying an additional 91 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of DoorDash by 3.9% during the fourth quarter. Ballentine Partners LLC now owns 2,962 shares of the company’s stock valued at $497,000 after buying an additional 112 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $195.54 on Friday. The stock has a market capitalization of $81.23 billion, a price-to-earnings ratio of -434.53, a PEG ratio of 2.04 and a beta of 1.72. The stock’s 50-day simple moving average is $176.85 and its two-hundred day simple moving average is $154.42. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $199.17.

Insider Activity

In related news, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the sale, the insider now owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at $265,515. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,758 shares of company stock valued at $181,434,201 in the last ninety days. Corporate insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DASH shares. DA Davidson raised their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Loop Capital increased their target price on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Needham & Company LLC increased their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on shares of DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Bank of America increased their target price on shares of DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.39.

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.