Neuberger Berman Group LLC Cuts Position in DoorDash, Inc. (NASDAQ:DASH)

Neuberger Berman Group LLC trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,368 shares of the company’s stock after selling 5,247 shares during the period. Neuberger Berman Group LLC’s holdings in DoorDash were worth $21,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. APG Asset Management N.V. purchased a new stake in shares of DoorDash in the 4th quarter valued at $29,435,000. Sellaronda Global Management LP acquired a new stake in shares of DoorDash during the fourth quarter worth about $5,871,000. Abacus FCF Advisors LLC acquired a new stake in shares of DoorDash during the fourth quarter worth about $6,733,000. Renaissance Technologies LLC boosted its stake in shares of DoorDash by 13.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,473,488 shares of the company’s stock valued at $414,928,000 after purchasing an additional 286,800 shares during the period. Finally, Bank of Nova Scotia grew its holdings in shares of DoorDash by 840.0% in the fourth quarter. Bank of Nova Scotia now owns 114,419 shares of the company’s stock valued at $19,194,000 after purchasing an additional 102,247 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Down 5.3 %

NASDAQ DASH opened at $178.52 on Friday. The firm has a market cap of $75.00 billion, a P/E ratio of 661.19 and a beta of 1.69. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The business’s 50-day moving average price is $190.55 and its 200 day moving average price is $175.08.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cantor Fitzgerald raised their price target on shares of DoorDash from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Benchmark increased their price target on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Bank of America lowered their price objective on DoorDash from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Monday. Finally, Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $206.12.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the completion of the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,523 shares of company stock worth $38,726,620. 7.92% of the stock is currently owned by insiders.

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.