Pitcairn Co. Trims Stake in DoorDash, Inc. (NASDAQ:DASH)

Pitcairn Co. lessened its holdings in DoorDash, Inc. (NASDAQ:DASH) by 5.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,847 shares of the company’s stock after selling 726 shares during the quarter. Pitcairn Co.’s holdings in DoorDash were worth $2,155,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors raised its holdings in shares of DoorDash by 9.6% in the 3rd quarter. Captrust Financial Advisors now owns 8,162 shares of the company’s stock valued at $1,165,000 after acquiring an additional 718 shares in the last quarter. HighTower Advisors LLC raised its stake in DoorDash by 4.6% in the third quarter. HighTower Advisors LLC now owns 21,538 shares of the company’s stock valued at $3,054,000 after purchasing an additional 944 shares in the last quarter. Investment Management Corp of Ontario lifted its position in DoorDash by 108.5% during the third quarter. Investment Management Corp of Ontario now owns 13,253 shares of the company’s stock valued at $1,892,000 after purchasing an additional 6,896 shares during the last quarter. Motley Fool Asset Management LLC lifted its position in DoorDash by 4.2% during the third quarter. Motley Fool Asset Management LLC now owns 16,562 shares of the company’s stock valued at $2,351,000 after purchasing an additional 674 shares during the last quarter. Finally, Polymer Capital Management HK LTD bought a new position in shares of DoorDash in the 3rd quarter worth $343,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DASH. UBS Group upped their target price on shares of DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a research report on Monday, March 10th. FBN Securities started coverage on DoorDash in a report on Friday, March 28th. They set an “outperform” rating and a $230.00 price objective on the stock. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. 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 issued a buy rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $207.29.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash 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 transaction, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the sale, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. This represents a 71.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,523 shares of company stock valued at $47,227,120 in the last three months. 7.92% of the stock is currently owned by company insiders.

DoorDash Stock Down 8.1 %

Shares of DASH stock opened at $173.99 on Friday. The stock has a market cap of $73.09 billion, a price-to-earnings ratio of 644.41 and a beta of 1.70. The business’s fifty day moving average is $192.30 and its 200 day moving average is $173.24. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25.

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.