Polymer Capital Management US LLC Purchases Shares of 2,439 DoorDash, Inc. (NASDAQ:DASH)

Polymer Capital Management US LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,439 shares of the company’s stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in DoorDash in the fourth quarter worth approximately $597,443,000. Arrowstreet Capital Limited Partnership increased its stake in shares of DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. raised its holdings in DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the period. Raymond James Financial Inc. purchased a new position in DoorDash during the fourth quarter valued at $146,094,000. Finally, California Public Employees Retirement System grew its holdings in DoorDash by 97.0% during the fourth quarter. California Public Employees Retirement System now owns 1,172,959 shares of the company’s stock valued at $196,764,000 after purchasing an additional 577,610 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the topic of a number of analyst reports. FBN Securities initiated coverage on DoorDash in a research report on Friday, March 28th. They set an “outperform” rating and a $230.00 price objective on the stock. KeyCorp lifted their price target on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Oppenheimer reissued a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Piper Sandler restated a “neutral” rating and set a $210.00 target price (up previously from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.29.

DoorDash Stock Down 6.2 %

Shares of DoorDash stock opened at $163.16 on Monday. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The company has a market capitalization of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69. The stock’s fifty day moving average is $191.90 and its two-hundred day moving average is $174.06.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $185.58, for a total value of $3,711,600.00. Following the transaction, the chief operating officer now owns 887,348 shares of the company’s stock, valued at $164,674,041.84. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now owns 18,285 shares in the company, valued at $3,313,424.85. The trade was a 71.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,523 shares of company stock worth $47,227,120. 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.