abrdn plc Cuts Position in DoorDash, Inc. (NASDAQ:DASH)

abrdn plc decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,619 shares of the company’s stock after selling 9,770 shares during the quarter. abrdn plc’s holdings in DoorDash were worth $10,504,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DASH. Rakuten Securities Inc. grew its holdings in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash in the 4th quarter worth approximately $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 acquiring an additional 69 shares during the period. Finally, Hollencrest Capital Management acquired a new stake in shares of DoorDash in the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on DASH. 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 report on Friday, January 3rd. Loop Capital upped their price target on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Benchmark upped their price target on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their price target on shares of DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, Susquehanna raised their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.39.

DoorDash Stock Performance

DoorDash stock opened at $195.54 on Friday. The stock’s 50 day moving average price is $176.85 and its 200 day moving average price is $154.09. The firm has a market capitalization of $81.23 billion, a PE ratio of -434.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.72. DoorDash, Inc. has a one year low of $99.32 and a one year high of $199.17.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the sale, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the sale, the director now directly owns 16,176 shares in the company, valued at approximately $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. Corporate insiders own 7.92% of the company’s stock.

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.