Sand Hill Global Advisors LLC Reduces Stake in DoorDash, Inc. (NASDAQ:DASH)

Sand Hill Global Advisors LLC cut its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,212 shares of the company’s stock after selling 100 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in DoorDash were worth $8,759,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of DASH. Vanguard Group Inc. raised its stake in shares of DoorDash by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after buying an additional 317,502 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after acquiring an additional 949,414 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after acquiring an additional 1,869,866 shares during the last quarter. Geode Capital Management LLC increased its position in DoorDash by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock worth $763,198,000 after purchasing an additional 86,667 shares in the last quarter. Finally, Norges Bank purchased a new stake in DoorDash in the fourth quarter valued at approximately $597,443,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on DASH shares. Needham & Company LLC reissued a “buy” rating on shares of DoorDash in a research note on Monday, March 3rd. Barclays boosted their price target on DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their price objective on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. KeyCorp increased their target price on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Finally, Wolfe Research lifted their price target on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

DoorDash Price Performance

DASH opened at $166.30 on Tuesday. The stock’s 50 day moving average price is $191.57 and its 200 day moving average price is $174.26. The stock has a market cap of $69.86 billion, a P/E ratio of 615.93 and a beta of 1.69. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the business’s 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 sale, the director now owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. The trade was a 71.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the transaction, the director now owns 16,176 shares of the company’s stock, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 258,523 shares of company stock valued at $47,227,120. 7.92% of the stock is currently owned by corporate insiders.

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.