Advisory Resource Group Lowers Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Advisory Resource Group reduced its stake in DoorDash, Inc. (NASDAQ:DASH) by 19.3% during the 4th quarter, HoldingsChannel reports. The firm owned 6,521 shares of the company’s stock after selling 1,561 shares during the period. Advisory Resource Group’s holdings in DoorDash were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of DASH. Baillie Gifford & Co. grew its stake in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after buying an additional 739,961 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after buying an additional 700,465 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of DoorDash by 5,396.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after buying an additional 651,525 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the completion of the sale, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total value of $3,616,600.00. Following 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 trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock valued at $181,434,201 over the last quarter. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Down 0.5 %

Shares of NASDAQ:DASH opened at $195.54 on Friday. The company has a market cap of $81.23 billion, a P/E ratio of -434.53, a P/E/G ratio of 2.04 and a beta of 1.72. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $199.17. The business has a fifty day simple moving average of $176.85 and a 200-day simple moving average of $154.42.

Analysts Set New Price Targets

Several analysts have recently commented on DASH shares. Susquehanna raised their price target on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. The Goldman Sachs Group raised their price target on DoorDash from $161.00 to $192.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a report on Thursday. Benchmark raised their price target on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $179.39.

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.