Wells Fargo & Company Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price target increased by Wells Fargo & Company from $166.00 to $198.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

DASH has been the subject of a number of other research reports. The Goldman Sachs Group boosted their price objective on shares of DoorDash from $161.00 to $192.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Barclays upped their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their price target on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. DA Davidson upped their price target on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, KeyCorp upped their price target on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $205.45.

DoorDash Stock Up 3.8 %

Shares of NASDAQ:DASH opened at $213.38 on Wednesday. The company has a market capitalization of $88.64 billion, a price-to-earnings ratio of -474.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. DoorDash has a 52 week low of $99.32 and a 52 week high of $214.64. The firm has a 50 day moving average of $179.29 and a 200 day moving average of $157.46.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the sale, the director now directly owns 16,176 shares of the company’s stock, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 108,334 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $270,105. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 932,426 shares of company stock valued at $162,990,678. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently modified their holdings of DASH. Norges Bank purchased a new stake in shares of DoorDash during the 4th quarter worth about $597,443,000. Capital World Investors raised its position in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of 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 purchasing an additional 1,645,186 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

About DoorDash

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.