DnB Asset Management AS Buys 91,270 Shares of DoorDash, Inc. (NASDAQ:DASH)

DnB Asset Management AS increased its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 182.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,370 shares of the company's stock after purchasing an additional 91,270 shares during the period. DnB Asset Management AS's holdings in DoorDash were worth $23,715,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC grew its position in 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 acquiring an additional 957 shares during the last quarter. Riverchase Wealth Management LLC bought a new stake in DoorDash during the 4th quarter valued at $336,000. Pictet Asset Management Holding SA boosted its position in DoorDash by 12.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 172,062 shares of the company's stock valued at $28,863,000 after buying an additional 18,401 shares during the period. Norges Bank bought a new stake in DoorDash in the 4th quarter worth $597,443,000. Finally, Blair William & Co. IL increased its position in shares of DoorDash by 18.2% in the fourth quarter. Blair William & Co. IL now owns 4,304 shares of the company's stock valued at $722,000 after acquiring an additional 664 shares during the period. Institutional investors own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of analyst reports. Barclays increased their target price on shares of DoorDash from $163.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating on shares of DoorDash in a research report on Monday, March 3rd. Bank of America boosted their target price on DoorDash from $205.00 to $245.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Wolfe Research raised their price target on DoorDash from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, Susquehanna boosted their price objective on shares of DoorDash from $180.00 to $235.00 and gave the company a "positive" rating in a research report on Thursday, February 13th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $207.21.

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Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total value of $18,454,356.20. Following the transaction, the chief executive officer now owns 1,500 shares of the company's stock, valued at $255,525. This trade represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 1,398 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the transaction, the director now owns 14,778 shares of the company's stock, valued at approximately $3,006,584.10. This trade represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,445 shares of company stock worth $65,969,730 in the last quarter. Company insiders own 7.92% of the company's stock.

DoorDash Price Performance

DoorDash stock traded up $9.45 during mid-day trading on Wednesday, reaching $191.87. 3,088,172 shares of the stock traded hands, compared to its average volume of 4,124,185. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The business's 50-day moving average is $192.25 and its 200-day moving average is $173.12. The stock has a market capitalization of $80.60 billion, a PE ratio of 710.63 and a beta of 1.70.

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.