Canada Pension Plan Investment Board Raises Holdings in DoorDash, Inc. (NASDAQ:DASH)

Canada Pension Plan Investment Board increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 43.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 682,582 shares of the company's stock after buying an additional 206,391 shares during the period. Canada Pension Plan Investment Board owned 0.16% of DoorDash worth $114,503,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in DoorDash during the 4th quarter valued at $597,443,000. Arrowstreet Capital Limited Partnership grew its stake in shares of DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock worth $780,858,000 after acquiring an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after purchasing an additional 949,414 shares in the last quarter. Raymond James Financial Inc. bought a new stake in DoorDash in the 4th quarter worth about $146,094,000. Finally, California Public Employees Retirement System lifted its position in shares of DoorDash by 97.0% during the 4th quarter. California Public Employees Retirement System now owns 1,172,959 shares of the company's stock worth $196,764,000 after buying an additional 577,610 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Up 3.5 %

DoorDash stock traded up $6.10 during midday trading on Wednesday, hitting $182.71. The stock had a trading volume of 1,010,963 shares, compared to its average volume of 4,236,352. The company has a market capitalization of $76.76 billion, a PE ratio of 676.70 and a beta of 1.69. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The firm's fifty day moving average is $187.74 and its two-hundred day moving average is $177.09.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 15,198 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $204.11, for a total value of $3,102,063.78. Following the transaction, the chief financial officer now directly owns 351,970 shares in the company, valued at $71,840,596.70. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the sale, the director now owns 18,285 shares of the company's stock, valued at $3,313,424.85. This represents a 71.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,511 shares of company stock worth $30,308,544. 7.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DASH. JMP Securities reaffirmed a "market outperform" rating and set a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. BMO Capital Markets reiterated an "outperform" rating and set a $240.00 target price (up previously from $180.00) on shares of DoorDash in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price target on DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Evercore ISI reaffirmed an "outperform" rating on shares of DoorDash in a report on Monday, March 10th. Finally, Morgan Stanley lowered their price target on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $208.88.

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.