DoorDash (NASDAQ:DASH) Trading 3.9% Higher – What’s Next?

DoorDash, Inc. (NASDAQ:DASH) shares shot up 3.9% on Wednesday . The stock traded as high as $187.63 and last traded at $189.51. 368,859 shares were traded during trading, a decline of 91% from the average session volume of 4,115,133 shares. The stock had previously closed at $182.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. BMO Capital Markets restated an “outperform” rating and issued a $240.00 target price (up previously from $180.00) on shares of DoorDash in a research report on Wednesday, February 12th. UBS Group lifted their price target on DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, KeyCorp raised their target price on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $207.21.

DoorDash Trading Up 3.3 %

The stock has a market capitalization of $79.19 billion, a P/E ratio of 698.78 and a beta of 1.70. The business’s fifty day simple moving average is $192.25 and its two-hundred day simple moving average is $173.12.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 1,398 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the sale, the director now owns 14,778 shares of the company’s stock, valued at $3,006,584.10. The trade was a 8.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction that occurred on Friday, March 28th. The shares were 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. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,445 shares of company stock worth $65,969,730. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several large investors have recently made changes to their positions in DASH. Townsquare Capital LLC raised its position in shares of DoorDash by 129.6% during the 3rd quarter. Townsquare Capital LLC now owns 5,640 shares of the company’s stock valued at $805,000 after acquiring an additional 3,184 shares during the last quarter. Captrust Financial Advisors raised its position in shares of DoorDash by 9.6% during the third quarter. Captrust Financial Advisors now owns 8,162 shares of the company’s stock worth $1,165,000 after purchasing an additional 718 shares during the period. Cinctive Capital Management LP bought a new position in shares of DoorDash during the 3rd quarter valued at about $873,000. HighTower Advisors LLC grew its position in shares of DoorDash by 4.6% in the 3rd quarter. HighTower Advisors LLC now owns 21,538 shares of the company’s stock valued at $3,054,000 after purchasing an additional 944 shares during the period. Finally, Janus Henderson Group PLC increased its stake in DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

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.