DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 134,692 shares of the company’s stock after selling 8,045 shares during the period. Picton Mahoney Asset Management’s holdings in DoorDash were worth $22,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DASH. Principal Financial Group Inc. increased its position in shares of DoorDash by 25.0% during the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock worth $12,958,000 after purchasing an additional 18,155 shares during the last quarter. Assetmark Inc. increased its position 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 during the last quarter. Venturi Wealth Management LLC increased its position in shares of DoorDash by 39.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after purchasing an additional 119 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in DoorDash in the 3rd quarter valued at about $219,000. Finally, GSA Capital Partners LLP increased its stake in DoorDash by 93.2% during the third quarter. GSA Capital Partners LLP now owns 7,690 shares of the company’s stock worth $1,098,000 after purchasing an additional 3,710 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Up 2.9 %

DASH stock opened at $183.50 on Friday. The company has a market capitalization of $77.09 billion, a P/E ratio of 679.63 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25. The business has a 50 day simple moving average of $187.99 and a 200-day simple moving average of $167.24.

Insider Activity

In related news, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $268,110. This trade represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andy Fang sold 1,398 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $284,423.10. Following the sale, the director now directly owns 14,778 shares of the company’s stock, valued at approximately $3,006,584.10. This represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 522,062 shares of company stock valued at $92,218,440. 7.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DASH shares. 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 research note on Thursday, February 13th. Truist Financial boosted their price target on shares of DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald boosted their price target on shares of DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. Finally, Mizuho boosted their price target on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.52.

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.