ABC Arbitrage SA Makes New $1.28 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

ABC Arbitrage SA purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,600 shares of the company’s stock, valued at approximately $1,275,000.

Several other institutional investors have also recently made changes to their positions in DASH. Rakuten Securities Inc. increased its holdings in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of DoorDash during the 4th quarter valued at approximately $34,000. ORG Wealth Partners LLC purchased a new position in shares of DoorDash during the 4th quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of DoorDash by 34.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after purchasing an additional 69 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new position in shares of DoorDash during the 3rd quarter valued at approximately $54,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

NASDAQ DASH opened at $213.38 on Friday. The firm’s 50-day moving average is $179.29 and its two-hundred day moving average is $157.81. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $214.64. The stock has a market capitalization of $88.64 billion, a P/E ratio of -474.18, a PEG ratio of 2.04 and a beta of 1.72.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup boosted their price target on shares of DoorDash from $211.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. DA Davidson boosted their price target on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley boosted their price target on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Barclays boosted their price target on shares of DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.45.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were 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 in the company, valued at $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the sale, the chief operating officer now owns 925,222 shares in the company, valued at $167,307,894.26. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 932,426 shares of company stock valued at $162,990,678 over the last 90 days. 7.92% of the stock is owned by insiders.

DoorDash Company 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.