Baillie Gifford & Co. Sells 941,315 Shares of DoorDash, Inc. (NASDAQ:DASH)

Baillie Gifford & Co. lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,201,359 shares of the company’s stock after selling 941,315 shares during the quarter. DoorDash comprises approximately 1.7% of Baillie Gifford & Co.’s holdings, making the stock its 17th largest holding. Baillie Gifford & Co.’s holdings in DoorDash were worth $2,214,528,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its stake in DoorDash by 26.9% during the fourth quarter. Allworth Financial LP now owns 840 shares of the company’s stock worth $149,000 after buying an additional 178 shares in the last quarter. Principal Securities Inc. boosted its stake in DoorDash by 41.6% during the fourth quarter. Principal Securities Inc. now owns 3,020 shares of the company’s stock worth $507,000 after buying an additional 887 shares in the last quarter. Everhart Financial Group Inc. boosted its stake in DoorDash by 5.3% during the fourth quarter. Everhart Financial Group Inc. now owns 4,567 shares of the company’s stock worth $766,000 after buying an additional 231 shares in the last quarter. Rhumbline Advisers boosted its stake in DoorDash by 4.3% during the fourth quarter. Rhumbline Advisers now owns 513,648 shares of the company’s stock worth $86,164,000 after buying an additional 21,228 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in DoorDash during the fourth quarter worth $1,275,000. Institutional investors own 90.64% of the company’s stock.

Insider Activity

In other news, CEO Tony Xu sold 115,432 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $265,515. This represents a 98.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stanley Tang sold 1,855 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $315,312.90. Following the completion of the sale, the director now directly owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. The trade was a 4.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 882,426 shares of company stock valued at $154,357,178. 7.92% of the stock is owned by insiders.

DoorDash Stock Up 3.8 %

NASDAQ:DASH opened at $213.38 on Monday. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $214.64. The business has a 50 day moving average price of $179.29 and a two-hundred day moving average price of $158.14. The company has a market cap of $88.64 billion, a P/E ratio of -474.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target 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. KeyCorp boosted their target price on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Oppenheimer boosted their target price on shares of DoorDash from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Roth Mkm boosted their target price on shares of DoorDash from $165.00 to $193.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $240.00 target price (up previously from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.45.

DoorDash Company 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.