Olympiad Research LP Decreases Position in DoorDash, Inc. (NASDAQ:DASH)

Olympiad Research LP cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 50.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,488 shares of the company’s stock after selling 2,494 shares during the period. Olympiad Research LP’s holdings in DoorDash were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. raised its position in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the period. Pittenger & Anderson Inc. purchased a new stake in DoorDash during the fourth quarter valued at approximately $29,000. Princeton Global Asset Management LLC purchased a new stake in DoorDash during the fourth quarter valued at approximately $34,000. ORG Wealth Partners LLC purchased a new stake in DoorDash during the fourth quarter valued at approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of DoorDash by 34.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after buying an additional 69 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on DASH. Loop Capital increased their price target on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group increased their price target on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Benchmark increased their price target on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Susquehanna increased their price target on DoorDash from $180.00 to $235.00 and gave the stock a “positive” rating in a report on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $205.45.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $179.76, for a total transaction of $1,258,320.00. Following the transaction, the chief financial officer now directly owns 373,993 shares in the company, valued at $67,228,981.68. The trade was a 1.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 115,432 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $265,515. This represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 812,035 shares of company stock worth $142,357,630. Insiders own 7.92% of the company’s stock.

DoorDash Stock Down 1.1 %

NASDAQ:DASH opened at $199.94 on Friday. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.24. The stock has a market capitalization of $83.99 billion, a PE ratio of 740.52 and a beta of 1.72. The stock’s 50-day moving average price is $182.56 and its 200-day moving average price is $161.03.

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.