Cerity Partners LLC Trims Position in DoorDash, Inc. (NASDAQ:DASH)

Cerity Partners LLC cut its position in DoorDash, Inc. (NASDAQ:DASH) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 83,183 shares of the company’s stock after selling 4,761 shares during the quarter. Cerity Partners LLC’s holdings in DoorDash were worth $13,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB increased its stake in shares of DoorDash by 3.3% in the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock worth $28,694,000 after purchasing an additional 5,539 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,498 shares in the last quarter. LVW Advisors LLC purchased a new stake in shares of DoorDash in the fourth quarter worth $236,000. Nordea Investment Management AB increased its stake in shares of DoorDash by 37.5% in the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock worth $294,701,000 after purchasing an additional 476,360 shares in the last quarter. Finally, Retireful LLC increased its stake in shares of DoorDash by 121.4% in the fourth quarter. Retireful LLC now owns 9,621 shares of the company’s stock worth $1,614,000 after purchasing an additional 5,275 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the sale, the director now owns 14,778 shares in the company, valued at $3,006,584.10. This trade represents a 8.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Keith Yandell sold 8,116 shares of DoorDash stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the sale, the insider now owns 105,162 shares of the company’s stock, valued at $21,395,208.90. The trade was a 7.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,523 shares of company stock worth $47,227,120 in the last 90 days. 7.92% of the stock is owned by corporate insiders.

DoorDash Trading Up 13.8 %

DoorDash stock opened at $188.58 on Thursday. The firm has a 50-day moving average price of $190.79 and a 200-day moving average price of $174.83. The firm has a market capitalization of $79.22 billion, a PE ratio of 698.44 and a beta of 1.69. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DASH shares. KeyCorp increased their price objective on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. The Goldman Sachs Group raised their target price on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. UBS Group raised their target price on shares of DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. FBN Securities assumed coverage on shares of DoorDash in a research note on Friday, March 28th. They set an “outperform” rating and a $230.00 target price for the company. Finally, Loop Capital raised their target price on shares of DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $206.12.

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.