Townsquare Capital LLC Boosts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Townsquare Capital LLC boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 12.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,349 shares of the company’s stock after acquiring an additional 709 shares during the quarter. Townsquare Capital LLC’s holdings in DoorDash were worth $1,065,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash in the fourth quarter valued at approximately $29,000. Denver PWM LLC purchased a new position in DoorDash in the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash during the fourth quarter worth $34,000. ORG Wealth Partners LLC purchased a new position in DoorDash in the fourth quarter valued at $36,000. Finally, IFP Advisors Inc raised 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 purchasing an additional 54 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $181.24 on Friday. The firm’s 50-day moving average is $189.13 and its two-hundred day moving average is $176.17. The company has a market capitalization of $76.14 billion, a PE ratio of 671.26 and a beta of 1.69. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DASH. Wedbush raised their price objective on shares of DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Evercore ISI reiterated an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. Cantor Fitzgerald lowered their target price on shares of DoorDash from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley reduced their price target on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group raised their price objective on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.88.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the sale, the director now owns 18,285 shares of the company’s stock, valued at $3,313,424.85. This trade represents a 71.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $185.58, for a total value of $3,711,600.00. Following the sale, the chief operating officer now owns 887,348 shares of the company’s stock, valued at approximately $164,674,041.84. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,511 shares of company stock valued at $30,308,544. 7.92% of the stock is owned by corporate insiders.

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.