New Insight Wealth Advisors Sells 209 Shares of DoorDash, Inc. (NASDAQ:DASH)

New Insight Wealth Advisors cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 11.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,628 shares of the company’s stock after selling 209 shares during the period. New Insight Wealth Advisors’ holdings in DoorDash were worth $273,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DASH. Principal Financial Group Inc. grew its position in DoorDash by 25.0% during the third quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock worth $12,958,000 after buying an additional 18,155 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of DoorDash during the 3rd quarter valued at $69,000. Assetmark Inc. grew its holdings in shares of DoorDash by 17.4% during the 3rd quarter. Assetmark Inc. now owns 3,519 shares of the company’s stock worth $502,000 after purchasing an additional 522 shares in the last quarter. Covestor Ltd increased its position in shares of DoorDash by 32.0% in the third quarter. Covestor Ltd now owns 1,878 shares of the company’s stock worth $268,000 after purchasing an additional 455 shares during the period. Finally, Long Walk Management LP acquired a new position in DoorDash in the third quarter valued at about $16,271,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $178.74, for a total value of $19,363,261.68. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $268,110. This represents a 98.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $176.66, for a total transaction of $8,833,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at approximately $2,857,652.16. The trade was a 75.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 572,062 shares of company stock worth $101,051,440. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $178.08 on Monday. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.24. The stock has a market capitalization of $74.81 billion, a PE ratio of 659.56 and a beta of 1.70. The company’s 50-day moving average is $186.78 and its 200-day moving average is $165.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Needham & Company LLC upped their target price on DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Oppenheimer increased their price target on DoorDash from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Wolfe Research raised their price objective on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, UBS Group upped their target price on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.52.

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.