Verition Fund Management LLC raised its holdings in shares of DoorDash, Inc. (NYSE:DASH – Get Rating) by 179.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,274 shares of the company's stock after purchasing an additional 14,310 shares during the quarter. Verition Fund Management LLC's holdings in DoorDash were worth $1,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DASH. Wipfli Financial Advisors LLC purchased a new stake in DoorDash in the third quarter valued at approximately $25,000. Sentry Investment Management LLC purchased a new stake in DoorDash in the third quarter valued at approximately $33,000. Alpha Paradigm Partners LLC purchased a new stake in DoorDash in the second quarter valued at approximately $45,000. Signaturefd LLC raised its stake in DoorDash by 793.3% in the third quarter. Signaturefd LLC now owns 929 shares of the company's stock valued at $46,000 after purchasing an additional 825 shares in the last quarter. Finally, Eisler Capital UK Ltd. purchased a new stake in DoorDash in the third quarter valued at approximately $52,000. 72.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DASH. Royal Bank of Canada downgraded shares of DoorDash from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $70.00 to $60.00 in a research note on Friday, December 2nd. Oppenheimer raised their target price on shares of DoorDash from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, February 17th. Piper Sandler cut shares of DoorDash from a "neutral" rating to an "underweight" rating and cut their target price for the stock from $227.00 to $40.00 in a report on Monday, January 9th. Moffett Nathanson began coverage on shares of DoorDash in a report on Monday, January 30th. They issued an "outperform" rating and a $79.00 price target on the stock. Finally, DA Davidson lifted their price target on shares of DoorDash from $60.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, February 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $80.95.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 93,000 shares of the business's stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $54.32, for a total value of $5,051,760.00. Following the completion of the transaction, the director now owns 31,759 shares of the company's stock, valued at approximately $1,725,148.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other DoorDash news, Director Stanley Tang sold 93,000 shares of the business's stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $54.32, for a total value of $5,051,760.00. Following the completion of the transaction, the director now owns 31,759 shares of the company's stock, valued at approximately $1,725,148.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Christopher D. Payne sold 47,093 shares of the business's stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $54.58, for a total value of $2,570,335.94. Following the completion of the transaction, the chief operating officer now directly owns 353,943 shares of the company's stock, valued at approximately $19,318,208.94. The disclosure for this sale can be found here. Insiders sold a total of 221,967 shares of company stock valued at $12,006,456 in the last quarter. 15.54% of the stock is owned by insiders.

DoorDash Price Performance

DASH opened at $55.28 on Friday. The stock has a 50-day moving average price of $55.63 and a 200-day moving average price of $55.43. The firm has a market cap of $21.46 billion, a PE ratio of -15.27 and a beta of 1.45. DoorDash, Inc. has a 1 year low of $41.37 and a 1 year high of $130.20.

DoorDash Profile

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

Further Reading

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