Abacus FCF Advisors LLC Acquires New Shares in DoorDash, Inc. (NASDAQ:DASH)

Abacus FCF Advisors LLC bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,137 shares of the company's stock, valued at approximately $6,733,000.

A number of other large investors have also made changes to their positions in the company. Renaissance Technologies LLC grew its position in DoorDash by 13.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,473,488 shares of the company's stock valued at $414,928,000 after buying an additional 286,800 shares during the period. Bank of Nova Scotia grew its position in shares of DoorDash by 840.0% during the 4th quarter. Bank of Nova Scotia now owns 114,419 shares of the company's stock valued at $19,194,000 after acquiring an additional 102,247 shares during the period. Invesco Ltd. increased its stake in shares of DoorDash by 20.2% in the 4th quarter. Invesco Ltd. now owns 3,383,657 shares of the company's stock worth $567,609,000 after purchasing an additional 567,948 shares in the last quarter. Employees Retirement System of Texas increased its stake in shares of DoorDash by 22.0% in the 4th quarter. Employees Retirement System of Texas now owns 47,529 shares of the company's stock worth $7,973,000 after purchasing an additional 8,577 shares in the last quarter. Finally, Polymer Capital Management US LLC bought a new position in DoorDash in the 4th quarter worth $409,000. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the transaction, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,523 shares of company stock valued at $38,726,620 in the last quarter. 7.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on DASH shares. Wells Fargo & Company upped their price target on DoorDash from $198.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 3rd. Cantor Fitzgerald increased their target price on shares of DoorDash from $200.00 to $230.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised their target price on shares of DoorDash from $192.00 to $212.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Citigroup reiterated a "buy" rating on shares of DoorDash in a research report on Saturday, March 8th. Finally, Loop Capital increased their price objective on shares of DoorDash from $200.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $207.39.

DoorDash Stock Performance

NASDAQ DASH traded up $1.97 during trading on Friday, hitting $180.49. The stock had a trading volume of 3,450,830 shares, compared to its average volume of 4,246,202. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25. The stock has a 50 day simple moving average of $190.27 and a 200 day simple moving average of $175.56. The stock has a market capitalization of $75.82 billion, a price-to-earnings ratio of 668.48 and a beta of 1.69.

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.