DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its position in DoorDash, Inc. (NASDAQ:DASH) by 44.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 47,888 shares of the company’s stock after selling 38,738 shares during the period. Quantbot Technologies LP’s holdings in DoorDash were worth $8,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DASH. Raymond James Financial Inc. purchased a new position in DoorDash during the 4th quarter valued at about $146,094,000. Janus Henderson Group PLC grew its holdings in shares of DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in DoorDash by 5,396.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after buying an additional 651,525 shares during the period. Amundi lifted its holdings in DoorDash by 65.0% during the 4th quarter. Amundi now owns 1,407,884 shares of the company’s stock worth $244,578,000 after buying an additional 554,675 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays increased their price objective on DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Benchmark lifted their price objective on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Bank of America boosted their price objective on DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a research note on Monday. Finally, KeyCorp increased their price objective on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.52.

Insider Activity

In other news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $178.74, for a total value of $19,363,261.68. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $268,110. The trade was a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Tia Sherringham sold 12,088 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the sale, the general counsel now directly owns 122,135 shares in the company, valued at approximately $24,848,365.75. The trade was a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 522,062 shares of company stock worth $92,218,440 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

DASH opened at $178.29 on Friday. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The business has a 50 day simple moving average of $187.66 and a 200-day simple moving average of $166.78. The stock has a market capitalization of $74.90 billion, a P/E ratio of 660.33 and a beta of 1.70.

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.