Morris Financial Concepts Inc. Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Morris Financial Concepts Inc. purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,204 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of DoorDash by 10.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,192,128 shares of the company’s stock worth $203,279,000 after acquiring an additional 109,766 shares during the last quarter. Capital Advisors Inc. OK boosted its position in shares of DoorDash by 23.4% in the fourth quarter. Capital Advisors Inc. OK now owns 251,397 shares of the company’s stock worth $42,172,000 after acquiring an additional 47,619 shares during the last quarter. Certuity LLC boosted its position in shares of DoorDash by 5.2% in the fourth quarter. Certuity LLC now owns 6,823 shares of the company’s stock worth $1,145,000 after acquiring an additional 338 shares during the last quarter. Cigna Investments Inc. New boosted its position in shares of DoorDash by 3.0% in the fourth quarter. Cigna Investments Inc. New now owns 3,564 shares of the company’s stock worth $598,000 after acquiring an additional 103 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of DoorDash in the fourth quarter worth approximately $287,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DASH has been the topic of several research analyst reports. Bank of America raised their target price on shares of DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 13th. DA Davidson raised their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Piper Sandler restated a “neutral” rating and issued a $210.00 price target (up previously from $160.00) on shares of DoorDash in a report on Wednesday. Finally, BMO Capital Markets restated an “outperform” rating and issued a $240.00 price target (up previously from $180.00) on shares of DoorDash in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.67.

DoorDash Price Performance

DASH stock opened at $200.89 on Thursday. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $201.17. The firm has a 50 day simple moving average of $178.00 and a 200-day simple moving average of $156.37.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,040,758 shares of company stock valued at $181,434,201. 7.92% of the stock is currently owned by corporate insiders.

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.