DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 43.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,742 shares of the company’s stock after selling 16,847 shares during the period. Van ECK Associates Corp’s holdings in DoorDash were worth $3,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of DASH. Asset Management One Co. Ltd. grew its position in DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after acquiring an additional 10,755 shares in the last quarter. Swedbank AB boosted its stake in shares of DoorDash by 3.3% in the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after purchasing an additional 5,539 shares during the period. Forsta AP Fonden grew its holdings in shares of DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC increased its stake in DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after buying an additional 3,498 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 5,509 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.24, for a total value of $970,906.16. Following the transaction, the insider now owns 118,712 shares of the company’s stock, valued at approximately $20,921,802.88. The trade was a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the sale, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 817,544 shares of company stock worth $143,328,536. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $213.24 on Thursday. The company has a market capitalization of $88.58 billion, a P/E ratio of 789.78 and a beta of 1.72. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.24. The company’s fifty day moving average is $181.54 and its two-hundred day moving average is $159.93.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DASH shares. Truist Financial boosted their price target on shares of DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. KeyCorp upped their price target on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. DA Davidson lifted their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.45.

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.