Soros Fund Management LLC Trims Stake in DoorDash, Inc. (NASDAQ:DASH)

Soros Fund Management LLC lowered its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 21.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 154,412 shares of the company's stock after selling 42,583 shares during the period. Soros Fund Management LLC's holdings in DoorDash were worth $25,903,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DASH. Pittenger & Anderson Inc. purchased a new stake in DoorDash in the fourth quarter worth $29,000. Denver PWM LLC purchased a new position in DoorDash during the 4th quarter valued at $30,000. Princeton Global Asset Management LLC bought a new position in DoorDash in the 4th quarter worth $34,000. ORG Wealth Partners LLC purchased a new stake in shares of DoorDash in the 4th quarter worth about $36,000. Finally, IFP Advisors Inc boosted its stake in shares of 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 purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling

In other DoorDash news, COO Prabir Adarkar sold 20,161 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $4,101,755.45. Following the transaction, the chief operating officer now owns 905,061 shares of the company's stock, valued at approximately $184,134,660.45. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Tia Sherringham sold 12,088 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $2,459,303.60. Following the completion of the transaction, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. The trade was a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,511 shares of company stock worth $30,394,673. 7.92% of the stock is owned by insiders.

DoorDash Stock Up 4.5 %

DASH traded up $8.89 during midday trading on Friday, hitting $205.09. 4,255,475 shares of the company traded hands, compared to its average volume of 4,150,411. The company's 50-day moving average is $185.23 and its 200 day moving average is $178.99. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The firm has a market capitalization of $86.16 billion, a PE ratio of 759.59 and a beta of 1.69.

Analyst Ratings Changes

DASH has been the subject of a number of research reports. JMP Securities reissued a "market outperform" rating and issued a $225.00 price target on shares of DoorDash in a research note on Monday. Bank of America decreased their target price on DoorDash from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Monday, April 7th. UBS Group lifted their price target on DoorDash from $200.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Evercore ISI reiterated an "outperform" rating on shares of DoorDash in a report on Monday, March 10th. Finally, Roth Mkm raised their price objective on DoorDash from $165.00 to $193.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.66.

DoorDash 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.