EverSource Wealth Advisors LLC Raises Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

EverSource Wealth Advisors LLC raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 38.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 551 shares of the company’s stock after purchasing an additional 153 shares during the period. EverSource Wealth Advisors LLC’s holdings in DoorDash were worth $92,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in DoorDash in the 4th quarter valued at approximately $146,094,000. Janus Henderson Group PLC raised its holdings in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after buying an additional 700,465 shares during the period. Amundi lifted its stake in DoorDash by 65.0% during the 4th quarter. Amundi now owns 1,407,884 shares of the company’s stock worth $244,578,000 after acquiring an additional 554,675 shares in the last quarter. Franklin Resources Inc. grew its position in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after acquiring an additional 501,905 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in DoorDash by 37.5% during the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock worth $294,701,000 after purchasing an additional 476,360 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DASH shares. Evercore ISI reaffirmed an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. KeyCorp increased their price objective on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Oppenheimer reissued a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Truist Financial increased their price target on DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.52.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Tang sold 50,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $170.34, for a total transaction of $8,517,000.00. Following the completion of the transaction, the director now owns 35,413 shares of the company’s stock, valued at $6,032,250.42. This represents a 58.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 363,730 shares of company stock worth $63,922,178 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Stock Down 2.4 %

Shares of NASDAQ:DASH opened at $185.21 on Wednesday. The company has a 50-day moving average price of $188.59 and a 200 day moving average price of $168.64. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The company has a market cap of $77.81 billion, a P/E ratio of 685.96 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.