Riverchase Wealth Management LLC Acquires Shares of 2,000 DoorDash, Inc. (NASDAQ:DASH)

Riverchase Wealth Management LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $336,000.

Several other hedge funds have also modified their holdings of DASH. Vanguard Group Inc. lifted its holdings in DoorDash by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after buying an additional 317,502 shares in the last quarter. State Street Corp raised its position in shares of DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after acquiring an additional 272,659 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares during the period. Geode Capital Management LLC boosted its holdings in DoorDash by 6.4% in the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after acquiring an additional 267,855 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares during the period. 90.64% of the stock is owned by institutional investors.

DoorDash Price Performance

DASH stock opened at $194.02 on Friday. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The stock has a market capitalization of $81.51 billion, a price-to-earnings ratio of 718.59 and a beta of 1.70. The business’s fifty day moving average price is $191.84 and its two-hundred day moving average price is $171.37.

Insider Buying and Selling

In other DoorDash news, General Counsel Tia Sherringham sold 12,088 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the transaction, the general counsel now directly owns 122,135 shares of the company’s stock, valued at $24,848,365.75. This trade represents a 9.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 14,715 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the sale, the chief financial officer now directly owns 338,055 shares of the company’s stock, valued at approximately $66,434,568.60. This trade represents a 4.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 358,445 shares of company stock valued at $63,443,370. 7.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research note 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 report on Tuesday, February 11th. BMO Capital Markets reissued an “outperform” rating and issued a $240.00 price target (up previously from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of DoorDash in a research note on Thursday, February 6th. Finally, Citigroup reissued a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target 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.