Bank of America Lowers DoorDash (NASDAQ:DASH) Price Target to $235.00

DoorDash (NASDAQ:DASH) had its price objective cut by stock analysts at Bank of America from $245.00 to $235.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 44.03% from the stock’s previous close.

Several other brokerages have also recently issued reports on DASH. The Goldman Sachs Group lifted their price objective on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Benchmark lifted their price target on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. FBN Securities assumed coverage on shares of DoorDash in a research report on Friday, March 28th. They set an “outperform” rating and a $230.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of DoorDash in a research note on Thursday, February 6th. Finally, Argus raised DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.00.

DoorDash Stock Down 6.2 %

NASDAQ:DASH opened at $163.16 on Monday. The company has a market cap of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69. The business’s 50 day moving average is $191.90 and its two-hundred day moving average is $174.06. DoorDash has a 52 week low of $99.32 and a 52 week high of $215.25.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the sale, the director now directly owns 16,176 shares of the company’s stock, valued at $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 258,523 shares of company stock valued at $47,227,120 over the last ninety days. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of DoorDash by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after acquiring an additional 317,502 shares during the period. Capital World Investors lifted its holdings in shares of DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after buying an additional 949,414 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after buying an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock valued at $763,198,000 after buying an additional 86,667 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.