Polymer Capital Management HK LTD Sells 1,200 Shares of DoorDash, Inc. (NASDAQ:DASH)

Polymer Capital Management HK LTD cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,200 shares of the company’s stock after selling 1,200 shares during the period. Polymer Capital Management HK LTD’s holdings in DoorDash were worth $201,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pittenger & Anderson Inc. bought a new stake in DoorDash during the 4th quarter worth approximately $29,000. Denver PWM LLC purchased a new position in shares of DoorDash during the 4th quarter valued at $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash in the fourth quarter worth $34,000. ORG Wealth Partners LLC purchased a new stake in shares of DoorDash in the fourth quarter worth $36,000. Finally, IFP Advisors Inc boosted its stake in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after buying an additional 54 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Down 6.2 %

Shares of DoorDash stock opened at $163.16 on Monday. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The company has a market cap of $68.54 billion, a P/E ratio of 604.30 and a beta of 1.69. The company’s fifty day simple moving average is $191.90 and its two-hundred day simple moving average is $174.06.

Insider Activity at DoorDash

In related news, insider Keith Yandell sold 8,116 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $1,651,200.20. Following the completion of the transaction, the insider now directly owns 105,162 shares in the company, valued at $21,395,208.90. The trade was a 7.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $170.01, for a total transaction of $8,500,500.00. Following the transaction, the director now owns 16,176 shares in the company, valued at $2,750,081.76. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,523 shares of company stock worth $47,227,120 over the last 90 days. 7.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. KeyCorp upped their price objective on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Oppenheimer reaffirmed a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Truist Financial boosted their price target on shares of DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays lifted their price objective on shares of DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $207.29.

DoorDash Company Profile

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.