Xponance Inc. Increases Stake in DoorDash, Inc. (NASDAQ:DASH)

Xponance Inc. raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,383 shares of the company’s stock after buying an additional 6,105 shares during the period. Xponance Inc.’s holdings in DoorDash were worth $10,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DASH. Pittenger & Anderson Inc. purchased a new stake in DoorDash during the fourth quarter valued at approximately $29,000. Denver PWM LLC bought a new position in shares of DoorDash in the fourth quarter worth approximately $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash in the fourth quarter worth approximately $34,000. ORG Wealth Partners LLC bought a new position in shares of DoorDash in the fourth quarter worth approximately $36,000. Finally, IFP Advisors Inc boosted its position in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Down 2.4 %

NASDAQ:DASH opened at $185.21 on Wednesday. The stock has a fifty day simple moving average of $188.59 and a 200-day simple moving average of $168.64. The company has a market cap of $77.81 billion, a price-to-earnings ratio of 685.96 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DASH shares. Susquehanna upped their price target on shares of DoorDash from $180.00 to $235.00 and gave the stock a “positive” rating in a research report on Thursday, February 13th. Bank of America upped their price target on shares of DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI reiterated an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. Royal Bank of Canada upped their target price on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley upped their target price on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.52.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Tia Sherringham sold 12,088 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was 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 owns 122,135 shares in the company, valued at $24,848,365.75. This represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 363,730 shares of company stock valued at $63,922,178 in the last 90 days. 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.