Alcosta Capital Management Inc. Invests $4.97 Million in DoorDash, Inc. (NASDAQ:DASH)

Alcosta Capital Management Inc. purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 29,624 shares of the company's stock, valued at approximately $4,969,000. DoorDash makes up 2.9% of Alcosta Capital Management Inc.'s investment portfolio, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in DoorDash by 87.2% in the fourth quarter. Russell Investments Group Ltd. now owns 781,011 shares of the company's stock worth $131,410,000 after buying an additional 363,720 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of DoorDash by 6.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 92,012 shares of the company's stock valued at $15,435,000 after purchasing an additional 5,617 shares in the last quarter. Aviva PLC grew its holdings in shares of DoorDash by 1,306.8% during the 4th quarter. Aviva PLC now owns 186,790 shares of the company's stock valued at $31,334,000 after purchasing an additional 173,512 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of DoorDash during the 4th quarter valued at $15,134,000. Finally, Prudential PLC raised its position in DoorDash by 33.5% in the 4th quarter. Prudential PLC now owns 6,871 shares of the company's stock worth $1,153,000 after purchasing an additional 1,723 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Trading Down 0.2 %

DoorDash stock traded down $0.34 during mid-day trading on Friday, hitting $178.18. The company had a trading volume of 1,344,402 shares, compared to its average volume of 4,222,540. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The company has a market capitalization of $74.85 billion, a PE ratio of 660.89 and a beta of 1.69. The stock's 50 day moving average price is $190.55 and its two-hundred day moving average price is $175.08.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Bank of America reduced their price objective on DoorDash from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Monday. Royal Bank of Canada increased their price objective on DoorDash from $215.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their target price on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday. Susquehanna upped their price target on shares of DoorDash from $180.00 to $235.00 and gave the company a "positive" rating in a report on Thursday, February 13th. Finally, Wolfe Research raised their price target on shares of DoorDash from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $206.12.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the transaction, the director now directly owns 18,285 shares in the company, valued at $3,313,424.85. The trade was a 71.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the sale, the director now directly owns 16,176 shares of the company's stock, valued at approximately $2,722,744.32. The trade was a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,523 shares of company stock valued at $38,726,620 in the last quarter. 7.92% of the stock is owned by insiders.

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.