Wells Fargo & Company Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price objective boosted by Wells Fargo & Company from $166.00 to $198.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

DASH has been the subject of several other reports. Loop Capital increased their price objective on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Wolfe Research raised their target price on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Jefferies Financial Group raised their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group raised their target price on shares of DoorDash from $182.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, DA Davidson increased their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.67.

DoorDash Trading Up 4.0 %

Shares of NASDAQ DASH opened at $200.89 on Wednesday. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17. The stock has a 50 day simple moving average of $178.00 and a 200-day simple moving average of $156.37.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total transaction 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 through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the completion of the transaction, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,040,758 shares of company stock valued at $181,434,201. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Several institutional investors have recently modified their holdings of the business. 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 buying an additional 10,755 shares during the period. Swedbank AB lifted its holdings in DoorDash by 3.3% in 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 grew its position in shares of DoorDash by 18.6% during the 3rd 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 during the period. Sanctuary Advisors LLC increased its stake in shares of DoorDash by 48.8% in the 3rd 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 in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of DoorDash by 13.2% during the 3rd 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 during the period. 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.