DoorDash (NASDAQ:DASH) Trading 3.9% Higher – Time to Buy?

DoorDash, Inc. (NASDAQ:DASH)’s stock price rose 3.9% during trading on Wednesday . The company traded as high as $187.63 and last traded at $189.51. Approximately 368,859 shares changed hands during trading, a decline of 91% from the average daily volume of 4,115,133 shares. The stock had previously closed at $182.42.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research analyst reports. Royal Bank of Canada upped their target price on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of DoorDash in a research report on Thursday, February 6th. Benchmark lifted their target price on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their target price on DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of DoorDash in a research note on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.21.

DoorDash Stock Up 3.3 %

The company has a market cap of $79.19 billion, a P/E ratio of 698.78 and a beta of 1.70. The stock has a 50 day moving average price of $192.25 and a two-hundred day moving average price of $173.12.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total value of $18,454,356.20. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,525. The trade was a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $185.58, for a total value of $3,711,600.00. Following the sale, the chief operating officer now directly owns 887,348 shares in the company, valued at $164,674,041.84. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,445 shares of company stock worth $65,969,730. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB increased its holdings in DoorDash by 80.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 492 shares of the company’s stock valued at $90,000 after buying an additional 220 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in DoorDash by 234.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 38,990 shares of the company’s stock valued at $6,541,000 after purchasing an additional 27,330 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of DoorDash during the 4th quarter valued at $16,876,000. Centaurus Financial Inc. bought a new stake in shares of DoorDash during the fourth quarter worth about $137,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in DoorDash in the 4th quarter valued at approximately $41,951,000. 90.64% of the stock is currently owned by 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.