Polymer Capital Management US LLC Acquires Shares of 2,439 DoorDash, Inc. (NASDAQ:DASH)

Polymer Capital Management US LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,439 shares of the company’s stock, valued at approximately $409,000.

A number of other large investors have also recently modified their holdings of the business. Pittenger & Anderson Inc. bought a new position in shares of DoorDash in the 4th quarter valued at $29,000. Denver PWM LLC acquired a new position in shares of DoorDash during the 4th quarter valued at $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash during the 4th quarter worth about $34,000. ORG Wealth Partners LLC bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $36,000. Finally, IFP Advisors Inc raised its holdings in DoorDash by 31.8% during 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 last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the sale, the director now owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This trade represents a 71.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 16,176 shares in the company, valued at approximately $2,750,081.76. The trade was a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 258,523 shares of company stock worth $47,227,120. Corporate insiders own 7.92% of the company’s stock.

DoorDash Trading Down 6.2 %

Shares of NASDAQ DASH opened at $163.16 on Monday. The firm has a fifty day simple moving average of $191.90 and a two-hundred day simple moving average of $174.06. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The firm has a market capitalization of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DASH. Wolfe Research upped their price target on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Piper Sandler restated a “neutral” rating and set a $210.00 price target (up previously from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. FBN Securities began coverage on shares of DoorDash in a research report on Friday, March 28th. They issued an “outperform” rating and a $230.00 price objective on the stock. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Finally, Royal Bank of Canada lifted their price target on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $207.29.

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.