Proficio Capital Partners LLC Makes New $36.81 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

Proficio Capital Partners LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 219,417 shares of the company’s stock, valued at approximately $36,807,000.

Several other hedge funds have also recently made changes to their positions in DASH. Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. Janus Henderson Group PLC increased its stake in DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in DoorDash by 5,396.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after acquiring an additional 651,525 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of DoorDash by 37.5% in the 4th quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock worth $294,701,000 after purchasing an additional 476,360 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

NASDAQ:DASH opened at $198.44 on Friday. The stock has a 50-day simple moving average of $184.95 and a two-hundred day simple moving average of $163.29. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.24. The firm has a market capitalization of $83.36 billion, a PE ratio of 734.96 and a beta of 1.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DASH. KeyCorp upped their price objective on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Truist Financial lifted their price objective on DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wedbush raised their target price on DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of DoorDash in a research note on Thursday, February 6th. Finally, Susquehanna lifted their price objective on DoorDash from $180.00 to $235.00 and gave the company a “positive” rating in a research note on Thursday, February 13th. Nine investment 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.52.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $176.88, for a total value of $8,844,000.00. Following the sale, the director now directly owns 35,413 shares in the company, valued at approximately $6,263,851.44. The trade was a 58.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 115,432 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the sale, the chief executive officer now owns 1,500 shares in the company, valued at $265,515. This represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 753,662 shares of company stock valued at $133,190,353. Company insiders own 7.92% of the company’s stock.

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.