Certuity LLC Raises Stake in DoorDash, Inc. (NASDAQ:DASH)

Certuity LLC lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,823 shares of the company’s stock after buying an additional 338 shares during the quarter. Certuity LLC’s holdings in DoorDash were worth $1,145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DASH. Rakuten Securities Inc. lifted its position in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in DoorDash during the fourth quarter valued at approximately $34,000. ORG Wealth Partners LLC acquired a new position in shares of DoorDash during the fourth quarter worth $36,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after purchasing an additional 69 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of DoorDash during the third quarter worth $54,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Tony Xu sold 115,432 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $265,515. This represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 14,219 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,416,945.62. Following the completion of the sale, the chief financial officer now directly owns 380,993 shares of the company’s stock, valued at $64,761,190.14. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,040,758 shares of company stock valued at $181,434,201 over the last 90 days. 7.92% of the stock is currently owned by company insiders.

DoorDash Stock Performance

DoorDash stock opened at $193.09 on Wednesday. The firm has a market capitalization of $80.21 billion, a P/E ratio of -429.09, a P/E/G ratio of 2.04 and a beta of 1.72. The company has a 50-day simple moving average of $177.52 and a 200-day simple moving average of $156.06. DoorDash, Inc. has a one year low of $99.32 and a one year high of $199.17.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DASH shares. Royal Bank of Canada boosted their target price on shares of DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Barclays boosted their target price on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Loop Capital lifted their price target on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.82.

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.