Advisors Asset Management Inc. Grows Holdings in DoorDash, Inc. (NASDAQ:DASH)

Advisors Asset Management Inc. increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 701.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,245 shares of the company’s stock after purchasing an additional 11,593 shares during the quarter. Advisors Asset Management Inc.’s holdings in DoorDash were worth $2,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. purchased a new position in DoorDash in the fourth quarter valued at about $29,000. Denver PWM LLC purchased a new position in DoorDash in the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC purchased a new position in DoorDash in the fourth quarter valued at about $34,000. ORG Wealth Partners LLC purchased a new position in DoorDash in the fourth quarter valued at about $36,000. Finally, IFP Advisors Inc boosted its stake in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after acquiring an additional 54 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $190.62 on Friday. The company’s fifty day moving average price is $189.72 and its 200-day moving average price is $169.70. The firm has a market capitalization of $80.08 billion, a price-to-earnings ratio of 706.00 and a beta of 1.70. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction on Friday, December 27th. The shares were sold at an average price of $168.53, for a total transaction of $3,370,600.00. Following the transaction, the chief operating officer now owns 925,222 shares of the company’s stock, valued at approximately $155,927,663.66. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 15,198 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the transaction, the chief financial officer now directly owns 351,970 shares in the company, valued at approximately $71,840,596.70. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 363,730 shares of company stock valued at $63,922,178. Insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $240.00 target price (up from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. Truist Financial upped their price target on shares of DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Bank of America upped their price target on shares of DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Argus upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada upped their price target on shares of DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $206.52.

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.