Entropy Technologies LP Has $8.84 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

Entropy Technologies LP lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 379.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,691 shares of the company’s stock after acquiring an additional 41,697 shares during the quarter. DoorDash makes up about 0.9% of Entropy Technologies LP’s investment portfolio, making the stock its 8th largest position. Entropy Technologies LP’s holdings in DoorDash were worth $8,839,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in shares of DoorDash by 13.2% in 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. Allspring Global Investments Holdings LLC increased its holdings in shares of DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after acquiring an additional 739,961 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after acquiring an additional 651,525 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after acquiring an additional 501,905 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DASH shares. Citigroup increased their price target on DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Wells Fargo & Company increased their price target on DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Mizuho increased their price objective on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays increased their price objective on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Nine 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.39.

Insider Activity

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the sale, the director now owns 18,089 shares in the company, valued at $3,123,427.63. This represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the sale, the chief financial officer now owns 366,993 shares in the company, valued at approximately $67,233,117.60. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock valued at $181,434,201 over the last three months. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

Shares of DoorDash stock opened at $195.54 on Friday. The firm has a market capitalization of $81.23 billion, a price-to-earnings ratio of -434.53, a PEG ratio of 2.04 and a beta of 1.72. The business has a 50-day simple moving average of $176.85 and a 200 day simple moving average of $154.42. DoorDash, Inc. has a one year low of $99.32 and a one year high of $199.17.

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.