3,836 Shares in DoorDash, Inc. (NASDAQ:DASH) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,836 shares of the company’s stock, valued at approximately $643,000.

Several other hedge funds also recently made changes to their positions in DASH. Baillie Gifford & Co. grew its stake in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. Janus Henderson Group PLC grew its position 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. Thrivent Financial for Lutherans grew its position in DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after buying an additional 651,525 shares during the last quarter. Franklin Resources Inc. grew 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 acquiring an additional 501,905 shares during the last quarter. Finally, Nordea Investment Management AB grew 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 acquiring an additional 476,360 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DASH. Needham & Company LLC boosted their price objective on DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Barclays boosted their price target on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Wolfe Research upped their price target on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Cantor Fitzgerald lifted their price objective on shares of DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley increased their target price on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $213.24 on Thursday. The firm has a market cap of $88.58 billion, a price-to-earnings ratio of 789.78 and a beta of 1.72. The business’s 50-day simple moving average is $181.54 and its 200-day simple moving average is $159.93. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.24.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total value of $3,616,600.00. Following the sale, the chief operating officer now owns 925,222 shares of the company’s stock, valued at $167,307,894.26. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 817,544 shares of company stock valued at $143,328,536 over the last 90 days. 7.92% of the stock is currently owned by company insiders.

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.