Allstate Corp Purchases Shares of 9,078 DoorDash, Inc. (NASDAQ:DASH)

Allstate Corp bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,078 shares of the company's stock, valued at approximately $1,523,000.

Several other institutional investors also recently bought and sold shares of the stock. DnB Asset Management AS grew its stake in DoorDash by 182.2% in the 4th quarter. DnB Asset Management AS now owns 141,370 shares of the company's stock valued at $23,715,000 after buying an additional 91,270 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of DoorDash by 11.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 9,163 shares of the company's stock worth $1,537,000 after purchasing an additional 957 shares in the last quarter. Riverchase Wealth Management LLC bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $336,000. Pictet Asset Management Holding SA lifted its position in DoorDash by 12.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 172,062 shares of the company's stock worth $28,863,000 after purchasing an additional 18,401 shares during the period. Finally, Norges Bank acquired a new stake in DoorDash during the fourth quarter worth $597,443,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Price Performance

DASH traded down $13.68 on Thursday, hitting $175.57. 4,213,216 shares of the stock were exchanged, compared to its average volume of 4,140,180. The business has a 50-day moving average of $192.48 and a two-hundred day moving average of $173.23. The firm has a market capitalization of $73.75 billion, a price-to-earnings ratio of 650.25 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25.

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Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 20,161 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $4,101,755.45. Following the sale, the chief operating officer now owns 905,061 shares of the company's stock, valued at $184,134,660.45. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $170.01, for a total value of $8,500,500.00. Following the sale, the director now directly owns 16,176 shares in the company, valued at $2,750,081.76. The trade was a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,113 shares of company stock valued at $38,998,374. 7.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of DoorDash from $155.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Oppenheimer reissued a "hold" rating on shares of DoorDash in a report on Monday, March 10th. Needham & Company LLC reaffirmed a "buy" rating on shares of DoorDash in a research note on Monday, March 3rd. Mizuho lifted their price objective on DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group upped their target price on shares of DoorDash from $192.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Ten 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 MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and an average target price of $207.29.

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.