DoorDash (NASDAQ:DASH) Given New $230.00 Price Target at Royal Bank of Canada

DoorDash (NASDAQ:DASH) had its price target boosted by Royal Bank of Canada from $215.00 to $230.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Susquehanna increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. The Goldman Sachs Group raised their price target on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday. Jefferies Financial Group lifted their price objective on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. DA Davidson upped their target price on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Loop Capital lifted their price target on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $202.67.

DoorDash Stock Up 4.0 %

Shares of DASH stock opened at $200.89 on Wednesday. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17. The business’s fifty day simple moving average is $178.00 and its 200-day simple moving average is $156.37.

Insider Activity

In related 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 value of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,758 shares of company stock worth $181,434,201 over the last 90 days. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds and other institutional investors have recently modified their holdings of DASH. Asset Management One Co. Ltd. grew its stake in DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after acquiring an additional 10,755 shares in the last quarter. Swedbank AB boosted its holdings in shares of DoorDash by 3.3% during the 4th quarter. Swedbank AB now owns 171,055 shares of the company’s stock worth $28,694,000 after purchasing an additional 5,539 shares during the last quarter. Forsta AP Fonden grew its position in shares of DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after purchasing an additional 3,498 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.