Gardner Russo & Quinn LLC Cuts Position in DoorDash, Inc. (NASDAQ:DASH)

Gardner Russo & Quinn LLC lowered its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 670,131 shares of the company’s stock after selling 35,136 shares during the quarter. DoorDash makes up 1.3% of Gardner Russo & Quinn LLC’s holdings, making the stock its 14th largest position. Gardner Russo & Quinn LLC owned about 0.16% of DoorDash worth $112,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Pittenger & Anderson Inc. acquired a new position in DoorDash in the 4th quarter valued at $29,000. Denver PWM LLC acquired a new position in DoorDash during the fourth quarter worth about $30,000. Princeton Global Asset Management LLC acquired a new stake in DoorDash in the 4th quarter valued at about $34,000. ORG Wealth Partners LLC purchased a new position in DoorDash in the 4th quarter worth approximately $36,000. Finally, IFP Advisors Inc lifted its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Trading Down 5.9 %

Shares of NASDAQ:DASH opened at $182.61 on Friday. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The company’s 50 day moving average is $192.00 and its two-hundred day moving average is $171.77. The company has a market cap of $76.71 billion, a PE ratio of 676.33 and a beta of 1.70.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 14,715 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 338,055 shares in the company, valued at $66,434,568.60. This represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 358,445 shares of company stock worth $63,443,370. Corporate insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

DASH has been the subject of several recent research reports. Loop Capital increased their price target on DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, February 24th. Evercore ISI reaffirmed an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. Wedbush lifted their price target on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. The Goldman Sachs Group upped 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $210.00 target price (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Ten 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $207.21.

About DoorDash

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.