DoorDash (NASDAQ:DASH) Now Covered by FBN Securities

Investment analysts at FBN Securities assumed coverage on shares of DoorDash (NASDAQ:DASH) in a report released on Friday, MarketBeat reports. The brokerage set an “outperform” rating and a $230.00 price target on the stock. FBN Securities’ target price points to a potential upside of 25.95% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Oppenheimer restated a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Wolfe Research raised their target price on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Citigroup reiterated a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Argus upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, Mizuho upped their target price on DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.21.

DoorDash Stock Down 5.9 %

DASH opened at $182.61 on Friday. The company has a market cap of $76.71 billion, a P/E ratio of 676.33 and a beta of 1.70. The firm’s 50-day moving average price is $192.00 and its 200-day moving average price is $172.10. DoorDash has a 52-week low of $99.32 and a 52-week high of $215.25.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $169.32, for a total value of $1,185,240.00. Following the transaction, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at approximately $62,139,254.76. This trade represents a 1.87 % 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 business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $170.01, for a total value of $8,500,500.00. Following the sale, the director now owns 16,176 shares of the company’s stock, valued at approximately $2,750,081.76. This trade represents a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 358,445 shares of company stock valued at $63,443,370. 7.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently made changes to their positions in DASH. Swedbank AB raised its stake in DoorDash by 3.3% in the 4th quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after purchasing an additional 5,539 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after buying an additional 3,498 shares during the last quarter. LVW Advisors LLC purchased a new position in shares of DoorDash in the fourth quarter worth about $236,000. Nordea Investment Management AB boosted its position in DoorDash by 37.5% during the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock worth $294,701,000 after acquiring an additional 476,360 shares during the last quarter. Finally, Retireful LLC grew its stake in DoorDash by 121.4% during the 4th quarter. Retireful LLC now owns 9,621 shares of the company’s stock valued at $1,614,000 after acquiring an additional 5,275 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

About DoorDash

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.