Prosperity Wealth Management Inc. Sells 108 Shares of DoorDash, Inc. (NASDAQ:DASH)

Prosperity Wealth Management Inc. trimmed its stake in DoorDash, Inc. (NASDAQ:DASH) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 4,747 shares of the company’s stock after selling 108 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in DoorDash were worth $796,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DASH. Principal Financial Group Inc. increased its position in DoorDash by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock worth $12,958,000 after buying an additional 18,155 shares during the period. Assetmark Inc. increased its position in DoorDash by 17.4% in the 3rd quarter. Assetmark Inc. now owns 3,519 shares of the company’s stock worth $502,000 after buying an additional 522 shares during the period. Venturi Wealth Management LLC increased its position in DoorDash by 39.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after buying an additional 119 shares during the period. Apollon Wealth Management LLC acquired a new stake in shares of DoorDash during the 3rd quarter worth approximately $219,000. Finally, Entropy Technologies LP grew its holdings in shares of DoorDash by 71.0% during the 3rd quarter. Entropy Technologies LP now owns 10,994 shares of the company’s stock worth $1,569,000 after purchasing an additional 4,564 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Buying and Selling at DoorDash

In other news, General Counsel Tia Sherringham sold 12,088 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the completion of the transaction, the general counsel now directly owns 122,135 shares of the company’s stock, valued at $24,848,365.75. This represents a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 15,198 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value of $3,102,063.78. Following the transaction, the chief financial officer now directly owns 351,970 shares of the company’s stock, valued at $71,840,596.70. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 572,062 shares of company stock valued at $101,051,440. Company insiders own 7.92% of the company’s stock.

DoorDash Trading Up 3.3 %

NASDAQ:DASH opened at $183.73 on Wednesday. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The stock has a market cap of $77.18 billion, a price-to-earnings ratio of 680.48 and a beta of 1.70. The stock has a 50-day moving average price of $187.26 and a two-hundred day moving average price of $166.63.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Loop Capital lifted their price objective on DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Wells Fargo & Company lifted their price objective on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Wolfe Research lifted their price objective on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Roth Mkm lifted their price objective on DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Benchmark boosted their price target on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.52.

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.