Capital Research Global Investors Cuts Stake in DoorDash, Inc. (NASDAQ:DASH)

Capital Research Global Investors lowered its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 40.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,628,767 shares of the company's stock after selling 5,900,856 shares during the period. Capital Research Global Investors owned approximately 2.08% of DoorDash worth $1,447,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DASH. Vanguard Group Inc. increased its position in shares of DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock valued at $5,254,501,000 after acquiring an additional 317,502 shares during the period. Capital World Investors raised its stake in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after buying an additional 2,538,160 shares in the last quarter. Franklin Resources Inc. lifted its holdings in DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock worth $796,781,000 after buying an additional 949,414 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of DoorDash by 67.1% during 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 during the period. Finally, Geode Capital Management LLC raised its position in shares of DoorDash by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock worth $763,198,000 after acquiring an additional 86,667 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. Mizuho upped their price target on DoorDash from $200.00 to $222.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Truist Financial raised their target price on shares of DoorDash from $217.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Wolfe Research boosted their price target on DoorDash from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Morgan Stanley reduced their price objective on DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, KeyCorp lowered their price objective on DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $208.88.

DoorDash Stock Performance

Shares of DASH stock traded up $4.88 during mid-day trading on Wednesday, reaching $181.49. 2,588,917 shares of the company's stock traded hands, compared to its average volume of 5,474,494. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.24. The firm has a 50 day moving average price of $187.74 and a two-hundred day moving average price of $177.09. The firm has a market capitalization of $76.24 billion, a PE ratio of 672.19 and a beta of 1.69.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 15,198 shares of DoorDash stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the transaction, the chief financial officer now owns 351,970 shares in the company, valued at approximately $71,840,596.70. The trade was a 4.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 1,398 shares of the company'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 $284,423.10. Following the completion of the transaction, the director now directly owns 14,778 shares of the company's stock, valued at $3,006,584.10. This represents a 8.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,511 shares of company stock worth $30,308,544 over the last quarter. 7.92% of the stock is currently owned by corporate insiders.

DoorDash 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.