Ardmore Road Asset Management LP Decreases Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Ardmore Road Asset Management LP lessened its holdings in DoorDash, Inc. (NASDAQ:DASH) by 62.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,000 shares of the company’s stock after selling 126,000 shares during the quarter. DoorDash accounts for 1.8% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 25th largest position. Ardmore Road Asset Management LP’s holdings in DoorDash were worth $12,581,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DASH. IFP Advisors Inc raised its position in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after acquiring an additional 54 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of DoorDash by 34.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after purchasing an additional 69 shares during the period. Avestar Capital LLC boosted its holdings in DoorDash by 1.1% in the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after buying an additional 75 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after acquiring an additional 84 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its position in shares of DoorDash by 3.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after purchasing an additional 88 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DASH. UBS Group increased their price objective on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Piper Sandler reaffirmed a “neutral” rating and set a $210.00 target price (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating on shares of DoorDash in a report on Monday, March 3rd. Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Citigroup reissued a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.21.

DoorDash Stock Performance

DASH opened at $182.42 on Wednesday. The stock has a market capitalization of $76.63 billion, a PE ratio of 675.63 and a beta of 1.70. The stock’s 50 day moving average price is $192.25 and its 200-day moving average price is $173.12. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at $67,233,117.60. The trade was a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 owns 1,500 shares of the company’s stock, valued at approximately $255,525. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,445 shares of company stock worth $65,969,730 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

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.