Polymer Capital Management HK LTD Sells 1,200 Shares of DoorDash, Inc. (NASDAQ:DASH)

Polymer Capital Management HK LTD reduced its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 50.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the company’s stock after selling 1,200 shares during the period. Polymer Capital Management HK LTD’s holdings in DoorDash were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DASH. Pittenger & Anderson Inc. purchased a new stake in shares of DoorDash in the fourth quarter worth $29,000. Denver PWM LLC purchased a new position in shares of DoorDash in the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash during the fourth quarter worth about $34,000. ORG Wealth Partners LLC purchased a new stake in shares of DoorDash in the fourth quarter worth about $36,000. Finally, IFP Advisors Inc boosted its stake in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. BMO Capital Markets reissued an “outperform” rating and set a $240.00 target price (up previously from $180.00) on shares of DoorDash in a research report on Wednesday, February 12th. Benchmark raised their price target on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Argus raised DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Citigroup reissued a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.29.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $163.16 on Monday. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week 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 firm has a 50 day moving average price of $191.90 and a 200 day moving average price of $174.06.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 16,176 shares of the company’s stock, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Keith Yandell sold 8,116 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $1,651,200.20. Following the completion of the transaction, the insider now owns 105,162 shares of the company’s stock, valued at $21,395,208.90. The trade was a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,523 shares of company stock valued at $47,227,120. Company insiders own 7.92% of the company’s stock.

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.