Crescent Park Management L.P. Lowers Holdings in DoorDash, Inc. (NASDAQ:DASH)

Crescent Park Management L.P. lowered its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 7.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 52,184 shares of the company’s stock after selling 4,440 shares during the period. DoorDash accounts for 3.4% of Crescent Park Management L.P.’s holdings, making the stock its 11th biggest holding. Crescent Park Management L.P.’s holdings in DoorDash were worth $8,754,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pittenger & Anderson Inc. acquired a new position in shares of DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC purchased a new stake in DoorDash in the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC acquired a new position in DoorDash during the 4th quarter worth approximately $34,000. ORG Wealth Partners LLC purchased a new position in shares of DoorDash during the 4th quarter worth approximately $36,000. Finally, IFP Advisors Inc raised its stake in shares of DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Ratings Changes

DASH has been the topic of a number of recent analyst reports. Wedbush upped their price objective on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Citigroup reaffirmed a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Piper Sandler reiterated a “neutral” rating and issued a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Mizuho upped their target price on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on shares of DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Ten 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.21.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total value of $18,454,356.20. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,525. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 371,445 shares of company stock worth $65,969,730 in the last 90 days. 7.92% of the stock is owned by company insiders.

DoorDash Trading Down 0.2 %

DoorDash stock opened at $182.42 on Wednesday. The stock has a fifty day moving average price of $192.25 and a 200 day moving average price of $173.12. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The firm has a market capitalization of $76.63 billion, a P/E ratio of 675.63 and a beta of 1.70.

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.