Envestnet Portfolio Solutions Inc. Raises Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Envestnet Portfolio Solutions Inc. raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,205 shares of the company’s stock after purchasing an additional 594 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in DoorDash were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Catalyst Funds Management Pty Ltd purchased a new position in shares of DoorDash in the 4th quarter worth approximately $4,143,000. LBP AM SA acquired a new position in shares of DoorDash during the fourth quarter worth $5,115,000. Parnassus Investments LLC purchased a new stake in shares of DoorDash during the 4th quarter valued at $798,000. Commonwealth Equity Services LLC boosted its position in shares of DoorDash by 43.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,026 shares of the company’s stock worth $1,682,000 after purchasing an additional 3,013 shares in the last quarter. Finally, PGGM Investments grew its stake in DoorDash by 68.3% during the 4th quarter. PGGM Investments now owns 17,197 shares of the company’s stock worth $2,885,000 after buying an additional 6,979 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Down 1.2 %

DASH opened at $190.62 on Friday. The firm’s fifty day simple moving average is $189.72 and its two-hundred day simple moving average is $169.70. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The company has a market cap of $80.08 billion, a price-to-earnings ratio of 706.00 and a beta of 1.70.

Insider Buying and Selling

In other news, Director Andy Fang sold 1,398 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the sale, the director now owns 14,778 shares of the company’s stock, valued at $3,006,584.10. This represents a 8.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $2,459,303.60. Following the completion of the sale, the general counsel now owns 122,135 shares of the company’s stock, valued at $24,848,365.75. This trade represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 363,730 shares of company stock worth $63,922,178 in the last 90 days. Insiders own 7.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on DASH. Wedbush raised their price target on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a research report on Thursday, February 6th. The Goldman Sachs Group raised their price target on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. BMO Capital Markets reissued an “outperform” rating and set a $240.00 price objective (up from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald raised their target price on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $206.52.

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.