Quantbot Technologies LP Sells 38,738 Shares of DoorDash, Inc. (NASDAQ:DASH)

Quantbot Technologies LP trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 44.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,888 shares of the company’s stock after selling 38,738 shares during the quarter. Quantbot Technologies LP’s holdings in DoorDash were worth $8,033,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pittenger & Anderson Inc. purchased a new stake in shares of DoorDash during the 4th quarter worth approximately $29,000. Denver PWM LLC bought a new stake in DoorDash during the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC purchased a new position in DoorDash during the 4th quarter worth $34,000. ORG Wealth Partners LLC purchased a new stake in shares of DoorDash during the fourth quarter valued at about $36,000. Finally, IFP Advisors Inc lifted its position in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after acquiring an additional 54 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wedbush raised their price objective on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Susquehanna raised their target price on DoorDash from $180.00 to $235.00 and gave the stock a “positive” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price target on DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a report on Thursday, February 6th. Finally, Royal Bank of Canada raised their price target on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.52.

Insider Activity

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 stock was sold at an average price of $178.74, for a total value of $19,363,261.68. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, Director Andy Fang sold 1,398 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $284,423.10. Following the sale, the director now directly owns 14,778 shares of the company’s stock, valued at approximately $3,006,584.10. This trade represents a 8.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 522,062 shares of company stock valued at $92,218,440. 7.92% of the stock is currently owned by insiders.

DoorDash Stock Performance

NASDAQ DASH opened at $178.29 on Friday. The stock’s fifty day moving average is $187.66 and its two-hundred day moving average is $166.78. The firm has a market capitalization of $74.90 billion, a P/E ratio of 660.33 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25.

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.