HighTower Advisors LLC Has $3.34 Million Position in DoorDash, Inc. (NASDAQ:DASH)

HighTower Advisors LLC cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 7.7% during the 4th quarter, HoldingsChannel reports. The fund owned 19,885 shares of the company’s stock after selling 1,653 shares during the quarter. HighTower Advisors LLC’s holdings in DoorDash were worth $3,336,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. S&CO Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at about $224,000. Independent Advisor Alliance acquired a new position in shares of DoorDash in the fourth quarter valued at about $390,000. Daiwa Securities Group Inc. grew its stake in shares of DoorDash by 1.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 64,825 shares of the company’s stock valued at $10,875,000 after acquiring an additional 621 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of DoorDash by 34.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,997 shares of the company’s stock valued at $13,587,000 after acquiring an additional 20,958 shares in the last quarter. Finally, Amundi grew its stake in shares of DoorDash by 65.0% in the fourth quarter. Amundi now owns 1,407,884 shares of the company’s stock valued at $244,578,000 after acquiring an additional 554,675 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler restated a “neutral” rating and issued a $210.00 price target (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Morgan Stanley increased their price objective on shares of DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Benchmark increased their price objective on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Bank of America increased their price objective 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-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.52.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $192.93 on Friday. The company has a market capitalization of $81.05 billion, a P/E ratio of 714.56 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The company’s 50 day moving average price is $189.31 and its 200-day moving average price is $168.96.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $168.53, for a total value of $3,370,600.00. Following the transaction, the chief operating officer now owns 925,222 shares in the company, valued at approximately $155,927,663.66. The trade was a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,525. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 363,730 shares of company stock worth $63,922,178. Company insiders own 7.92% of the company’s stock.

About DoorDash

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.