Pictet Asset Management Holding SA Grows Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Pictet Asset Management Holding SA increased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,062 shares of the company’s stock after buying an additional 18,401 shares during the quarter. Pictet Asset Management Holding SA’s holdings in DoorDash were worth $28,863,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DASH. Pittenger & Anderson Inc. bought a new stake in shares of DoorDash during the 4th quarter valued at $29,000. Denver PWM LLC purchased a new position in DoorDash during the fourth quarter valued at $30,000. Princeton Global Asset Management LLC bought a new stake in DoorDash during the fourth quarter valued at about $34,000. ORG Wealth Partners LLC purchased a new stake in DoorDash in the fourth quarter worth about $36,000. Finally, IFP Advisors Inc raised its stake in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $182.61 on Monday. The firm has a market capitalization of $76.71 billion, a PE ratio of 676.33 and a beta of 1.70. The business has a 50 day simple moving average of $192.00 and a two-hundred day simple moving average of $172.39. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DASH shares. Cantor Fitzgerald increased their target price on shares of DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a research note on Thursday, February 6th. Barclays lifted their target price on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Morgan Stanley increased their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, FBN Securities began coverage on DoorDash in a research report on Friday. They issued an “outperform” rating and a $230.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $207.21.

Insider Buying and Selling

In other news, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,525. This trade represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $170.01, for a total value of $8,500,500.00. Following the completion of the sale, the director now owns 16,176 shares of the company’s stock, valued at $2,750,081.76. The trade was a 75.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 351,445 shares of company stock valued at $62,258,130. 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.