Calamos Wealth Management LLC Lowers Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Calamos Wealth Management LLC cut its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 19.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,909 shares of the company’s stock after selling 18,846 shares during the quarter. Calamos Wealth Management LLC’s holdings in DoorDash were worth $12,901,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Baillie Gifford & Co. raised its position in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. State Street Corp increased its holdings in shares of DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Janus Henderson Group PLC raised its holdings in DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after buying an additional 700,465 shares during the last quarter. Geode Capital Management LLC boosted its stake in DoorDash by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after purchasing an additional 267,855 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after acquiring an additional 501,905 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DASH shares. Wells Fargo & Company lifted their price target on shares of DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Evercore ISI boosted their price target on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup upped their price objective on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada boosted their price target on shares of DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.39.

DoorDash Stock Performance

NASDAQ:DASH opened at $190.80 on Tuesday. The company has a market cap of $79.26 billion, a price-to-earnings ratio of -424.00, a PEG ratio of 1.97 and a beta of 1.71. The stock has a fifty day moving average price of $175.53 and a 200-day moving average price of $152.23. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $192.78.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. This represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. This represents a 0.39 % 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 worth $181,434,201 over the last quarter. Company insiders own 7.92% of the company’s stock.

DoorDash 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.