Wells Fargo & Company Raises DoorDash (NASDAQ:DASH) Price Target to $198.00

DoorDash (NASDAQ:DASH) had its target price hoisted by Wells Fargo & Company from $166.00 to $198.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Loop Capital upped their target price on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a research report on Thursday, February 6th. UBS Group raised their price objective on DoorDash from $182.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their target price on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on shares of DoorDash from $161.00 to $192.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

DoorDash Trading Up 4.0 %

Shares of DASH opened at $200.89 on Wednesday. The business’s fifty day moving average is $178.00 and its 200 day moving average is $156.37. DoorDash has a 12-month low of $99.32 and a 12-month high of $201.17.

Insider Buying and Selling

In related news, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. This represents a 98.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock worth $181,434,201 in the last three months. 7.92% of the stock is owned by corporate insiders.

Institutional Trading of DoorDash

A number of institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. raised its stake in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Pittenger & Anderson Inc. bought a new position in shares of DoorDash in the fourth quarter worth about $29,000. Denver PWM LLC purchased a new position in shares of DoorDash during the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC bought a new position in shares of DoorDash during the 4th quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in DoorDash in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.