Summit Securities Group LLC Invests $63,000 in DoorDash, Inc. (NASDAQ:DASH)

Summit Securities Group LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 377 shares of the company’s stock, valued at approximately $63,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Vanguard Group Inc. lifted its holdings in shares of DoorDash by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after buying an additional 317,502 shares during the period. State Street Corp raised its holdings in shares of DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Janus Henderson Group PLC grew its holdings in DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after purchasing an additional 267,855 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DASH. The Goldman Sachs Group lifted their price objective on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Mizuho upped their price objective on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler reiterated a “neutral” rating and issued a $210.00 target price (up from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Evercore ISI restated an “outperform” rating on shares of DoorDash in a report on Monday, March 10th. Finally, Argus upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $207.21.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total value of $18,454,356.20. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at $255,525. The trade was a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ravi Inukonda sold 14,715 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the sale, the chief financial officer now owns 338,055 shares in the company, valued at approximately $66,434,568.60. This represents a 4.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,445 shares of company stock worth $62,258,130 over the last quarter. 7.92% of the stock is currently owned by insiders.

DoorDash Stock Performance

Shares of DASH opened at $182.61 on Monday. The business’s 50-day moving average is $192.00 and its two-hundred day moving average is $172.39. The company has a market capitalization of $76.71 billion, a P/E ratio of 676.33 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25.

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.