Angeles Wealth Management LLC Sells 587 Shares of DoorDash, Inc. (NASDAQ:DASH)

Angeles Wealth Management LLC reduced its stake in DoorDash, Inc. (NASDAQ:DASH) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,894 shares of the company’s stock after selling 587 shares during the period. Angeles Wealth Management LLC’s holdings in DoorDash were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DASH. Asset Management One Co. Ltd. lifted its holdings in DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares in the last quarter. Swedbank AB increased its position in shares of DoorDash by 3.3% during the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after buying an additional 5,539 shares during the period. Forsta AP Fonden lifted its holdings in shares of DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after buying an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after acquiring an additional 3,498 shares during the period. Finally, Baillie Gifford & Co. grew its stake in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Trading Down 1.5 %

DoorDash stock opened at $192.63 on Tuesday. The firm has a market cap of $80.02 billion, a P/E ratio of -428.07, a P/E/G ratio of 2.04 and a beta of 1.72. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $199.17. The firm has a 50-day moving average of $177.18 and a 200-day moving average of $155.44.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have issued reports on DASH shares. Wells Fargo & Company raised their price target on shares of DoorDash from $150.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Morgan Stanley lifted their price objective on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Loop Capital boosted their target price on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada raised their price target on DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, BMO Capital Markets boosted their price objective on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.39.

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.