Morris Financial Concepts Inc. Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Morris Financial Concepts Inc. purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,204 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its holdings 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 buying an additional 1,645,186 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 in the last quarter. Janus Henderson Group PLC boosted 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 in the last quarter. Thrivent Financial for Lutherans boosted 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 in the last quarter. Finally, Franklin Resources Inc. boosted 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 in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 925,222 shares of the company’s stock, valued at $167,307,894.26. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’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 sale, the chief financial officer now directly owns 366,993 shares in the company, valued at $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. Insiders own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup upped their price target on shares of DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer upped their price target on shares of DoorDash from $180.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group upped their price target on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group upped their price target on shares of DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.67.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $200.89 on Thursday. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $201.17. The company’s 50-day moving average price is $178.00 and its 200 day moving average price is $156.37.

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.