Alcosta Capital Management Inc. Purchases New Holdings in DoorDash, Inc. (NASDAQ:DASH)

Alcosta Capital Management Inc. acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 29,624 shares of the company’s stock, valued at approximately $4,969,000. DoorDash makes up 2.9% of Alcosta Capital Management Inc.’s holdings, making the stock its 17th largest position.

A number of other hedge funds have also made changes to their positions in the company. Pittenger & Anderson Inc. purchased a new stake in shares of DoorDash during the fourth quarter worth approximately $29,000. Denver PWM LLC acquired a new stake in DoorDash during the 4th quarter worth $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash during the fourth quarter worth $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the fourth quarter valued at about $36,000. Finally, IFP Advisors Inc lifted its stake in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the sale, the director now directly owns 18,285 shares in the company, valued at $3,313,424.85. The trade was a 71.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the completion of the transaction, the chief operating officer now directly owns 887,348 shares in the company, valued at approximately $164,674,041.84. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,523 shares of company stock valued at $47,227,120. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $163.16 on Friday. The business has a 50-day moving average of $191.90 and a two-hundred day moving average of $173.77. The firm has a market capitalization of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. KeyCorp increased their price objective on shares of DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Wells Fargo & Company lifted their price objective on DoorDash from $198.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Truist Financial raised their price target on shares of DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from 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.