Wellington Management Group LLP Lowers Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Wellington Management Group LLP reduced its holdings in DoorDash, Inc. (NASDAQ:DASH) by 2.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,381,166 shares of the company’s stock after selling 30,905 shares during the quarter. Wellington Management Group LLP’s holdings in DoorDash were worth $231,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DASH. O Shaughnessy Asset Management LLC increased its stake in shares of DoorDash by 29.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,053 shares of the company’s stock worth $3,196,000 after purchasing an additional 4,343 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of DoorDash by 97.0% during the fourth quarter. California Public Employees Retirement System now owns 1,172,959 shares of the company’s stock valued at $196,764,000 after acquiring an additional 577,610 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of DoorDash in the fourth quarter valued at approximately $63,000. Schroder Investment Management Group lifted its position in shares of DoorDash by 16.9% in the fourth quarter. Schroder Investment Management Group now owns 95,595 shares of the company’s stock valued at $16,213,000 after acquiring an additional 13,853 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after acquiring an additional 1,869,866 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on DASH shares. Wells Fargo & Company raised their price objective on DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Cantor Fitzgerald raised their price target on shares of DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Benchmark increased their price objective on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley boosted their target price on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Needham & Company LLC reissued 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.21.

DoorDash Price Performance

DASH stock opened at $189.25 on Thursday. The business’s 50-day moving average is $192.48 and its two-hundred day moving average is $173.23. The firm has a market capitalization of $79.50 billion, a P/E ratio of 700.93 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25.

Insider Activity at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the sale, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $170.01, for a total transaction of $8,500,500.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at $2,750,081.76. This trade represents a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,113 shares of company stock valued at $38,998,374 over the last 90 days. 7.92% of the stock is owned by corporate insiders.

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.