Summit Securities Group LLC Acquires Shares of 377 DoorDash, Inc. (NASDAQ:DASH)

Summit Securities Group LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, HoldingsChannel reports. The firm bought 377 shares of the company’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc raised its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of DoorDash by 34.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after buying an additional 69 shares during the last quarter. Avestar Capital LLC raised its position in shares of DoorDash by 1.1% in the fourth quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock valued at $1,110,000 after buying an additional 75 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of DoorDash by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after buying an additional 84 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in DoorDash by 3.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock worth $414,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 14,715 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the sale, the chief financial officer now owns 338,055 shares in the company, valued at $66,434,568.60. This represents a 4.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Tia Sherringham sold 12,088 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the completion of the sale, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. This represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,445 shares of company stock worth $62,258,130 in the last ninety days. 7.92% of the stock is owned by corporate insiders.

DoorDash Stock Performance

NASDAQ DASH opened at $182.61 on Monday. The firm has a market cap of $76.71 billion, a price-to-earnings ratio of 676.33 and a beta of 1.70. The firm has a 50 day simple moving average of $192.00 and a 200-day simple moving average of $172.39. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DASH. Wedbush increased their price objective on shares of DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Wolfe Research lifted their price objective on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Mizuho raised their target price on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI reissued an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.21.

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.