Freestone Capital Holdings LLC Sells 5,371 Shares of DoorDash, Inc. (NASDAQ:DASH)

Freestone Capital Holdings LLC cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 74.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,798 shares of the company’s stock after selling 5,371 shares during the period. Freestone Capital Holdings LLC’s holdings in DoorDash were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. increased its holdings in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash during the 4th quarter worth approximately $29,000. Denver PWM LLC bought a new stake in shares of DoorDash in the 4th quarter valued at $30,000. Princeton Global Asset Management LLC acquired a new position in shares of DoorDash during the 4th quarter valued at $34,000. Finally, ORG Wealth Partners LLC bought a new position in DoorDash during the fourth quarter worth $36,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DASH. Citigroup upped their price objective on shares of DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Truist Financial upped their price target on DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. KeyCorp upped their target price on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Finally, Morgan Stanley lifted their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.52.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $169.32, for a total transaction of $1,185,240.00. Following the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $62,139,254.76. This represents a 1.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $268,110. This trade represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 572,062 shares of company stock valued at $101,051,440. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Down 1.1 %

Shares of DASH stock opened at $178.08 on Friday. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.24. The company has a 50 day moving average of $186.60 and a 200-day moving average of $165.04. The firm has a market cap of $74.81 billion, a P/E ratio of 659.56 and a beta of 1.70.

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.