Van ECK Associates Corp Cuts Holdings in DoorDash, Inc. (NASDAQ:DASH)

Van ECK Associates Corp cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,742 shares of the company’s stock after selling 16,847 shares during the quarter. Van ECK Associates Corp’s holdings in DoorDash were worth $3,647,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of DoorDash by 289.0% during the 3rd quarter. Blue Trust Inc. now owns 2,373 shares of the company’s stock worth $339,000 after purchasing an additional 1,763 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of DoorDash by 36.2% in the third quarter. Sequoia Financial Advisors LLC now owns 3,980 shares of the company’s stock valued at $568,000 after purchasing an additional 1,058 shares during the period. Signaturefd LLC boosted its holdings in DoorDash by 10.9% during the third quarter. Signaturefd LLC now owns 4,885 shares of the company’s stock worth $697,000 after buying an additional 480 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in DoorDash during the third quarter worth about $1,772,000. Finally, IFM Investors Pty Ltd grew its position in DoorDash by 9.0% during the third quarter. IFM Investors Pty Ltd now owns 60,795 shares of the company’s stock worth $8,677,000 after buying an additional 5,032 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the completion of the sale, the chief operating officer now directly owns 925,222 shares of the company’s stock, valued at approximately $167,307,894.26. This represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keith Yandell sold 5,509 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.24, for a total value of $970,906.16. Following the completion of the sale, the insider now owns 118,712 shares of the company’s stock, valued at approximately $20,921,802.88. This represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 817,544 shares of company stock worth $143,328,536 in the last three months. 7.92% of the stock is currently owned by company insiders.

DoorDash Trading Up 0.6 %

Shares of DASH opened at $213.24 on Thursday. The stock’s fifty day simple moving average is $181.54 and its 200 day simple moving average is $159.93. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.24. The firm has a market capitalization of $88.58 billion, a P/E ratio of 789.78 and a beta of 1.72.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating and set a $210.00 price target (up from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their target price on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets reissued an “outperform” rating and issued a $240.00 target price (up previously from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. KeyCorp lifted their price target on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Finally, Oppenheimer increased their price objective on shares of DoorDash from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $205.45.

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.