Parnassus Investments LLC Invests $798,000 in DoorDash, Inc. (NASDAQ:DASH)

Parnassus Investments LLC acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,757 shares of the company’s stock, valued at approximately $798,000.

Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of DoorDash by 34.0% in the fourth 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. Avestar Capital LLC increased its stake in DoorDash by 1.1% during the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after buying an additional 75 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in DoorDash by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after buying an additional 84 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in DoorDash by 3.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH opened at $183.50 on Friday. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The firm has a 50-day simple moving average of $187.99 and a 200-day simple moving average of $167.24. The company has a market capitalization of $77.09 billion, a price-to-earnings ratio of 679.63 and a beta of 1.70.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $178.74, for a total value of $19,363,261.68. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $268,110. The trade was a 98.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 522,062 shares of company stock valued at $92,218,440 in the last ninety days. Insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DASH shares. Wedbush upped their price objective on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Evercore ISI restated an “outperform” rating on shares of DoorDash in a report on Monday. Wolfe Research increased their price target on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $240.00 target price (up previously from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.