Retirement Systems of Alabama bought a new position in DoorDash, Inc. (NASDAQ:DASH – Free Report) in the 1st quarter, HoldingsChannel reports. The fund bought 72,904 shares of the company’s stock, valued at approximately $13,325,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of DASH. Brighton Jones LLC grew its position in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Allworth Financial LP raised its position in shares of DoorDash by 26.9% during the 4th quarter. Allworth Financial LP now owns 840 shares of the company’s stock worth $149,000 after buying an additional 178 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of DoorDash by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 93,382 shares of the company’s stock worth $15,665,000 after buying an additional 2,596 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of DoorDash by 9.9% during the 4th quarter. Sanctuary Advisors LLC now owns 11,720 shares of the company’s stock worth $1,966,000 after buying an additional 1,057 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of DoorDash by 35.1% during the 4th quarter. Truist Financial Corp now owns 8,597 shares of the company’s stock worth $1,442,000 after buying an additional 2,233 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.
DoorDash Stock Performance
Shares of DASH opened at $220.46 on Monday. The company’s 50 day moving average price is $200.53 and its 200 day moving average price is $189.43. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $223.81. The company has a market capitalization of $93.42 billion, a PE ratio of 286.32 and a beta of 1.67.
Wall Street Analysts Forecast Growth
DASH has been the topic of a number of recent analyst reports. Loop Capital boosted their price target on shares of DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. UBS Group dropped their price target on shares of DoorDash from $197.00 to $196.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. BMO Capital Markets restated an “outperform” rating on shares of DoorDash in a research report on Tuesday, April 29th. Evercore ISI restated an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. Finally, Roth Capital set a $191.00 price target on shares of DoorDash and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.21.
Get Our Latest Report on DoorDash
Insiders Place Their Bets
In related news, CEO Tony Xu sold 44,244 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the sale, the chief executive officer now directly owns 520,450 shares of the company’s stock, valued at approximately $114,868,519.50. This represents a 7.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the sale, the director now directly owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,559 shares of company stock valued at $66,306,707 over the last ninety days. Corporate insiders own 5.83% 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.
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