Public Investment Fund Takes $81.87 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Public Investment Fund purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 488,020 shares of the company's stock, valued at approximately $81,865,000. DoorDash comprises approximately 0.3% of Public Investment Fund's investment portfolio, making the stock its 29th largest holding. Public Investment Fund owned 0.12% of DoorDash at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DASH. Wilmington Savings Fund Society FSB bought a new stake in shares of DoorDash during the third quarter valued at approximately $1,109,000. Tidal Investments LLC lifted its stake in shares of DoorDash by 19.9% in the 3rd quarter. Tidal Investments LLC now owns 12,321 shares of the company's stock worth $1,759,000 after purchasing an additional 2,049 shares during the period. Tri Ri Asset Management Corp purchased a new stake in DoorDash in the 3rd quarter worth approximately $6,250,000. Franklin Resources Inc. boosted its holdings in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock worth $570,135,000 after buying an additional 501,905 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in DoorDash by 1.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company's stock worth $107,064,000 after buying an additional 8,195 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on DASH shares. Barclays boosted their price objective on DoorDash from $163.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Citigroup restated an "outperform" rating on shares of DoorDash in a research report on Monday. Mizuho upped their target price on DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. KeyCorp lowered their price objective on shares of DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald cut their price target on DoorDash from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.66.

DoorDash Stock Up 0.1 %

Shares of DASH traded up $0.12 during trading on Monday, reaching $187.88. 3,083,604 shares of the company traded hands, compared to its average volume of 4,233,993. The stock has a 50-day simple moving average of $186.09 and a 200-day simple moving average of $178.22. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25. The stock has a market cap of $78.93 billion, a PE ratio of 695.85 and a beta of 1.69.

Insider Buying and Selling

In related news, Director Andy Fang sold 1,398 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the completion of the sale, the director now owns 14,778 shares in the company, valued at $3,006,584.10. This trade represents a 8.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 15,198 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the transaction, the chief financial officer now owns 351,970 shares of the company's stock, valued at $71,840,596.70. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,086 shares of company stock valued at $30,127,884. Corporate 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.