Newbridge Financial Services Group Inc. Acquires New Stake in DoorDash, Inc. (NASDAQ:DASH)

Newbridge Financial Services Group Inc. bought a new position in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 350 shares of the company’s stock, valued at approximately $59,000.

A number of other large investors have also made changes to their positions in the company. Asset Management One Co. Ltd. boosted its holdings in shares of DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after buying an additional 10,755 shares during the last quarter. Swedbank AB raised its position in DoorDash by 3.3% in the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock worth $28,694,000 after acquiring an additional 5,539 shares during the period. Forsta AP Fonden boosted its stake in shares of DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after acquiring an additional 10,100 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after acquiring an additional 3,498 shares during the period. Finally, Baillie Gifford & Co. increased 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 worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Price Performance

NASDAQ:DASH opened at $192.63 on Tuesday. The firm has a market capitalization of $80.02 billion, a price-to-earnings ratio of -428.07, a PEG ratio of 2.04 and a beta of 1.72. The business has a 50 day simple moving average of $177.18 and a 200-day simple moving average of $155.44. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $199.17.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 14,219 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,416,945.62. Following the transaction, the chief financial officer now owns 380,993 shares of the company’s stock, valued at approximately $64,761,190.14. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,375. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,040,758 shares of company stock worth $181,434,201. Company insiders own 7.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DASH shares. Loop Capital lifted their target price on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI lifted their price objective on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Barclays increased their target price on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Morgan Stanley lifted their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Piper Sandler increased their price objective on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.39.

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.