Illumine Investment Management LLC Acquires New Position in DoorDash, Inc. (NASDAQ:DASH)

Illumine Investment Management LLC purchased a new position in DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 20,407 shares of the company’s stock, valued at approximately $3,423,000. DoorDash makes up about 2.8% of Illumine Investment Management LLC’s investment portfolio, making the stock its 6th largest holding.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC bought a new stake in DoorDash in the third quarter worth $1,772,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of DoorDash by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,660 shares of the company’s stock worth $1,664,000 after purchasing an additional 942 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of DoorDash during the third quarter worth $364,000. abrdn plc increased its stake in shares of DoorDash by 63.5% during the third quarter. abrdn plc now owns 72,389 shares of the company’s stock valued at $10,332,000 after buying an additional 28,127 shares during the period. Finally, First Trust Direct Indexing L.P. increased its stake in shares of DoorDash by 11.1% during the third quarter. First Trust Direct Indexing L.P. now owns 5,704 shares of the company’s stock valued at $814,000 after buying an additional 568 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Mizuho raised their price target on DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial raised their price target on DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley raised their price target on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Bank of America raised their price target on DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their target price on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $206.52.

DoorDash Stock Performance

Shares of DASH opened at $195.84 on Friday. The stock has a 50 day moving average price of $184.40 and a 200 day moving average price of $162.77. The stock has a market capitalization of $82.27 billion, a price-to-earnings ratio of 725.33 and a beta of 1.72. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.24.

Insider Buying and Selling at DoorDash

In related news, General Counsel Tia Sherringham sold 11,694 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $176.91, for a total transaction of $2,068,785.54. Following the transaction, the general counsel now owns 134,223 shares of the company’s stock, valued at approximately $23,745,390.93. This represents a 8.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 115,432 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $265,515. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 753,662 shares of company stock worth $133,190,353 in the last three months. 7.92% of the stock is owned by corporate insiders.

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.