Voleon Capital Management LP Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Voleon Capital Management LP bought a new stake in DoorDash, Inc. (NASDAQ:DASH) in the fourth quarter, HoldingsChannel reports. The fund bought 62,333 shares of the company’s stock, valued at approximately $10,456,000. DoorDash makes up approximately 0.8% of Voleon Capital Management LP’s investment portfolio, making the stock its 21st biggest position.

Other hedge funds have also modified their holdings of the company. Pittenger & Anderson Inc. acquired a new stake in DoorDash in the fourth quarter valued at approximately $29,000. Denver PWM LLC acquired a new stake in DoorDash during the 4th quarter valued at $30,000. Princeton Global Asset Management LLC purchased a new stake in DoorDash during the 4th quarter worth $34,000. ORG Wealth Partners LLC acquired a new position in DoorDash in the 4th quarter worth $36,000. Finally, IFP Advisors Inc boosted its position in DoorDash by 31.8% in the 4th 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 last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Trading Up 1.8 %

Shares of DASH stock opened at $191.23 on Wednesday. The company has a market capitalization of $80.33 billion, a price-to-earnings ratio of 708.26 and a beta of 1.69. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25. The stock’s fifty day simple moving average is $185.36 and its 200-day simple moving average is $178.58.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 20,161 shares of DoorDash stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $4,101,755.45. Following the completion of the sale, the chief operating officer now owns 905,061 shares of the company’s stock, valued at $184,134,660.45. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 15,198 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the transaction, the chief financial officer now owns 351,970 shares in the company, valued at approximately $71,840,596.70. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,511 shares of company stock valued at $30,394,673 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. KeyCorp decreased their price target on DoorDash from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Roth Mkm increased their price objective on shares of DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Barclays upped their target price on shares of DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. FBN Securities initiated coverage on DoorDash in a research report on Friday, March 28th. They set an “outperform” rating and a $230.00 price objective for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $225.00 target price on shares of DoorDash in a research report on Monday. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.66.

DoorDash 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.