Federated Hermes Inc. Increases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Federated Hermes Inc. lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 38.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 767,863 shares of the company’s stock after buying an additional 215,060 shares during the quarter. Federated Hermes Inc. owned approximately 0.18% of DoorDash worth $128,815,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DASH. Pittenger & Anderson Inc. bought a new stake in DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash in the 4th quarter worth approximately $34,000. ORG Wealth Partners LLC purchased a new stake in shares of DoorDash in the 4th quarter worth approximately $36,000. Finally, IFP Advisors Inc increased its position in DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after buying an additional 54 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Down 6.2 %

Shares of DASH stock opened at $163.16 on Friday. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The stock has a market cap of $68.54 billion, a P/E ratio of 604.30 and a beta of 1.69. The company has a 50 day simple moving average of $191.90 and a two-hundred day simple moving average of $173.77.

Insider Activity

In other news, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $284,423.10. Following the transaction, the director now directly owns 14,778 shares of the company’s stock, valued at $3,006,584.10. The trade was a 8.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Tia Sherringham sold 12,088 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the completion of the sale, the general counsel now directly owns 122,135 shares of the company’s stock, valued at $24,848,365.75. This represents a 9.01 % decrease in their ownership of the stock. 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 in the last 90 days. Company insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI reissued an “outperform” rating on shares of DoorDash in a report on Monday, March 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. Wolfe Research increased their price objective on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Benchmark raised their price objective on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Citigroup reiterated a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.29.

DoorDash Company Profile

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.