AlphaQuest LLC Cuts Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

AlphaQuest LLC trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 9.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,819 shares of the company’s stock after selling 519 shares during the period. AlphaQuest LLC’s holdings in DoorDash were worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings 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 acquiring an additional 18,155 shares in the last quarter. Assetmark Inc. increased its holdings 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 acquiring an additional 522 shares in the last quarter. Venturi Wealth Management LLC increased its holdings 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 acquiring an additional 119 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in DoorDash in the 3rd quarter worth $219,000. Finally, Entropy Technologies LP increased its holdings in DoorDash by 71.0% in the 3rd quarter. Entropy Technologies LP now owns 10,994 shares of the company’s stock worth $1,569,000 after acquiring an additional 4,564 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $177.86 on Tuesday. The firm’s 50-day moving average is $186.94 and its two-hundred day moving average is $166.24. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The firm has a market capitalization of $74.72 billion, a PE ratio of 658.74 and a beta of 1.70.

Insider Buying and Selling

In related news, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $268,110. This represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keith Yandell sold 8,116 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the sale, the insider now owns 105,162 shares in the company, valued at $21,395,208.90. The trade was a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 572,062 shares of company stock worth $101,051,440. Company insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DASH. The Goldman Sachs Group boosted their price target on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. UBS Group boosted their price target on shares of DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Benchmark lifted their target price on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Wolfe Research lifted their target price on shares of DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $206.52.

DoorDash 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.