AlphaQuest LLC Trims Position in DoorDash, Inc. (NASDAQ:DASH)

AlphaQuest LLC lessened its stake in DoorDash, Inc. (NASDAQ:DASH) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,819 shares of the company’s stock after selling 519 shares during the period. AlphaQuest LLC’s holdings in DoorDash were worth $808,000 as of its most recent SEC filing.

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

DoorDash Trading Down 0.1 %

DASH opened at $177.86 on Tuesday. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The firm has a market capitalization of $74.72 billion, a PE ratio of 658.74 and a beta of 1.70. The firm has a 50 day moving average of $186.94 and a two-hundred day moving average of $166.24.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DASH. Needham & Company LLC reiterated a “buy” rating on shares of DoorDash in a report on Monday, March 3rd. KeyCorp increased their target price on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Mizuho increased their target price on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on shares of DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada increased their target price on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.52.

Insiders Place Their Bets

In other DoorDash news, General Counsel Tia Sherringham sold 12,088 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the completion of the transaction, the general counsel now directly owns 122,135 shares of the company’s stock, valued at approximately $24,848,365.75. This trade represents a 9.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 1,398 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $284,423.10. Following the transaction, the director now directly owns 14,778 shares of the company’s stock, valued at $3,006,584.10. This represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 572,062 shares of company stock valued at $101,051,440. 7.92% of the stock is owned by 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.