Proficio Capital Partners LLC Invests $36.81 Million in DoorDash, Inc. (NASDAQ:DASH)

Proficio Capital Partners LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 219,417 shares of the company’s stock, valued at approximately $36,807,000. Proficio Capital Partners LLC owned approximately 0.05% of DoorDash as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its stake in DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after buying an additional 10,755 shares in the last quarter. Swedbank AB boosted its stake in DoorDash by 3.3% in the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after buying an additional 5,539 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of DoorDash by 48.8% during 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 in the last quarter. Baillie Gifford & Co. boosted its stake in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Finally, LVW Advisors LLC acquired a new stake in shares of DoorDash during the fourth quarter valued at about $236,000. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Up 1.3 %

NASDAQ DASH opened at $198.44 on Friday. The company has a market cap of $83.36 billion, a price-to-earnings ratio of 734.96 and a beta of 1.72. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.24. The business has a 50 day moving average price of $184.95 and a 200-day moving average price of $163.29.

Insider Activity

In related news, CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $265,515. The trade was a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Tia Sherringham sold 11,694 shares of DoorDash stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $176.91, for a total value of $2,068,785.54. Following the transaction, the general counsel now directly owns 134,223 shares in the company, valued at approximately $23,745,390.93. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 753,662 shares of company stock worth $133,190,353 over the last quarter. 7.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DASH shares. KeyCorp lifted their price target on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Citigroup lifted their price target on DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price target on DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Evercore ISI lifted their price target on DoorDash from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Barclays lifted their price target on DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Nine research 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, DoorDash has an average rating of “Moderate Buy” and an average target price of $206.52.

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.