DoorDash (NASDAQ:DASH) Given New $210.00 Price Target at Wedbush

DoorDash (NASDAQ:DASH) had its price target lifted by Wedbush from $160.00 to $210.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms also recently commented on DASH. 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. DA Davidson upped their price target on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of DoorDash in a report on Thursday, February 6th. UBS Group increased their target price on shares of DoorDash from $182.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Wolfe Research boosted their price target on shares of DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $202.67.

DoorDash Price Performance

NASDAQ DASH opened at $200.89 on Wednesday. The company has a fifty day simple moving average of $178.00 and a 200 day simple moving average of $156.37. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total value of $3,616,600.00. Following the sale, the chief operating officer now owns 925,222 shares of the company’s stock, valued at $167,307,894.26. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,375. The trade was a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,040,758 shares of company stock worth $181,434,201 in the last three months. 7.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. boosted its holdings in shares of DoorDash by 10.6% in 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 lifted its position in DoorDash by 3.3% in the 4th quarter. Swedbank AB now owns 171,055 shares of the company’s stock worth $28,694,000 after buying an additional 5,539 shares during the last quarter. Forsta AP Fonden boosted its stake in 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 grew its position in DoorDash by 48.8% during 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 last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $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.

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.