Ardmore Road Asset Management LP Cuts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Ardmore Road Asset Management LP decreased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 62.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 75,000 shares of the company’s stock after selling 126,000 shares during the quarter. DoorDash accounts for about 1.8% of Ardmore Road Asset Management LP’s holdings, making the stock its 25th biggest position. Ardmore Road Asset Management LP’s holdings in DoorDash were worth $12,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Pittenger & Anderson Inc. bought a new position in shares of DoorDash during the fourth quarter valued at $29,000. Denver PWM LLC purchased a new stake in DoorDash during the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC bought a new stake in DoorDash during the 4th quarter valued at about $34,000. ORG Wealth Partners LLC purchased a new position in DoorDash in the fourth quarter worth about $36,000. Finally, IFP Advisors Inc lifted its stake in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Transactions at DoorDash

In other DoorDash news, insider Keith Yandell sold 8,116 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the sale, the insider now directly owns 105,162 shares of the company’s stock, valued at $21,395,208.90. The trade was a 7.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andy Fang sold 1,398 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the sale, the director now owns 14,778 shares in the company, valued at approximately $3,006,584.10. This trade represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,445 shares of company stock valued at $65,969,730 in the last ninety days. Corporate insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DASH shares. Evercore ISI reaffirmed an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. The Goldman Sachs Group increased their price objective on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating on shares of DoorDash in a research report on Monday, March 3rd. FBN Securities started coverage on shares of DoorDash in a research note on Friday, March 28th. They set an “outperform” rating and a $230.00 target price on the stock. Finally, Bank of America lifted their price target on shares of DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.21.

DoorDash Trading Down 0.2 %

NASDAQ:DASH opened at $182.42 on Wednesday. The business’s 50-day moving average is $192.25 and its 200 day moving average is $173.12. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The company has a market capitalization of $76.63 billion, a P/E ratio of 675.63 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.