DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 32.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 281,497 shares of the company's stock after selling 135,737 shares during the quarter. Alberta Investment Management Corp owned about 0.07% of DoorDash worth $47,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. boosted its position in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. State Street Corp boosted its position in shares of DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company's stock valued at $1,055,616,000 after buying an additional 272,659 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock valued at $789,766,000 after buying an additional 700,465 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company's stock valued at $636,652,000 after buying an additional 267,855 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock valued at $570,135,000 after buying an additional 501,905 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Down 1.1 %

Shares of NASDAQ DASH traded down $2.31 during trading hours on Friday, hitting $199.94. 4,096,182 shares of the company traded hands, compared to its average volume of 3,848,726. The company's 50 day moving average price is $182.56 and its 200 day moving average price is $161.03. The stock has a market capitalization of $83.99 billion, a price-to-earnings ratio of 740.52 and a beta of 1.72. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.24.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 108,334 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total value of $19,507,703.38. Following the transaction, the chief executive officer now owns 1,500 shares of the company's stock, valued at $270,105. This represents a 98.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company's stock in a transaction on 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 completion of the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 812,035 shares of company stock valued at $142,357,630 in the last quarter. 7.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DASH shares. Cantor Fitzgerald raised their target price on DoorDash from $200.00 to $230.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Bank of America raised their target price on DoorDash from $205.00 to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. JMP Securities reissued a "market outperform" rating and issued a $200.00 target price on shares of DoorDash in a research report on Thursday, February 6th. DA Davidson raised their target price on DoorDash from $119.00 to $150.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, Evercore ISI raised their target price on DoorDash from $200.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $205.45.

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.