DoorDash, Inc. (NASDAQ:DASH) Stock Position Boosted by Capital World Investors

Capital World Investors raised its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 26.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,153,265 shares of the company's stock after acquiring an additional 2,538,160 shares during the quarter. Capital World Investors owned approximately 2.93% of DoorDash worth $2,038,712,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC raised its position in shares of DoorDash by 48.8% in the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company's stock valued at $1,522,000 after buying an additional 3,498 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in DoorDash in the 3rd quarter worth about $1,109,000. Tidal Investments LLC boosted its stake in DoorDash by 19.9% in the 3rd quarter. Tidal Investments LLC now owns 12,321 shares of the company's stock worth $1,759,000 after buying an additional 2,049 shares during the last quarter. Tri Ri Asset Management Corp purchased a new stake in DoorDash in the 3rd quarter valued at about $6,250,000. Finally, Franklin Resources Inc. increased its stake in shares of DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock valued at $570,135,000 after acquiring an additional 501,905 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the business's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the completion of the transaction, the chief operating officer now directly owns 925,222 shares of the company's stock, valued at $167,307,894.26. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 15,198 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 351,970 shares in the company, valued at $71,840,596.70. The trade was a 4.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,511 shares of company stock valued at $30,308,544. 7.92% of the stock is currently owned by insiders.

DoorDash Stock Performance

Shares of NASDAQ DASH traded up $4.88 during midday trading on Wednesday, hitting $181.49. The company's stock had a trading volume of 2,588,917 shares, compared to its average volume of 5,474,494. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.24. The firm's fifty day moving average price is $187.74 and its 200-day moving average price is $177.09. The firm has a market cap of $76.24 billion, a P/E ratio of 672.19 and a beta of 1.69.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DASH. The Goldman Sachs Group boosted their target price on shares of DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Truist Financial boosted their target price on DoorDash from $217.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Mizuho raised their price target on shares of DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. UBS Group boosted their price objective on shares of DoorDash from $200.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on shares of DoorDash from $198.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 3rd. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $208.88.

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.