Arrowstreet Capital Limited Partnership Acquires 1,869,866 Shares of DoorDash, Inc. (NASDAQ:DASH)

Arrowstreet Capital Limited Partnership raised its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 67.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,654,891 shares of the company's stock after acquiring an additional 1,869,866 shares during the period. DoorDash accounts for about 0.6% of Arrowstreet Capital Limited Partnership's holdings, making the stock its 22nd biggest position. Arrowstreet Capital Limited Partnership owned 1.12% of DoorDash worth $780,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Townsquare Capital LLC boosted its stake in shares of DoorDash by 129.6% in the third quarter. Townsquare Capital LLC now owns 5,640 shares of the company's stock valued at $805,000 after purchasing an additional 3,184 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of DoorDash by 10.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,539 shares of the company's stock valued at $244,859,000 after acquiring an additional 159,449 shares in the last quarter. Vinva Investment Management Ltd increased its position in shares of DoorDash by 2.9% during the third quarter. Vinva Investment Management Ltd now owns 13,628 shares of the company's stock worth $1,938,000 after acquiring an additional 383 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of DoorDash by 12.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,125 shares of the company's stock worth $446,000 after acquiring an additional 354 shares during the last quarter. Finally, Icon Wealth Advisors LLC lifted its stake in shares of DoorDash by 8.8% in the third quarter. Icon Wealth Advisors LLC now owns 2,336 shares of the company's stock worth $333,000 after acquiring an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DASH shares. Piper Sandler reiterated a "neutral" rating and issued a $210.00 price target (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on DoorDash from $155.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. BMO Capital Markets reiterated an "outperform" rating and issued a $240.00 target price (up from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. Barclays upped their price target on shares of DoorDash from $163.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price objective on shares of DoorDash from $198.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and a consensus price target of $207.29.

Insider Activity

In related news, General Counsel Tia Sherringham sold 12,088 shares of DoorDash stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $2,459,303.60. Following the completion of the sale, the general counsel now directly owns 122,135 shares in the company, valued at approximately $24,848,365.75. This trade represents a 9.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 1,398 shares of the stock in a transaction 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 directly owns 14,778 shares in the company, valued at $3,006,584.10. The trade was a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,113 shares of company stock valued at $38,998,374. Corporate insiders own 7.92% of the company's stock.

DoorDash Price Performance

Shares of DoorDash stock traded down $11.67 during trading hours on Thursday, reaching $177.58. The company had a trading volume of 2,612,080 shares, compared to its average volume of 4,134,357. The firm has a market cap of $74.60 billion, a PE ratio of 657.70 and a beta of 1.70. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25. The business has a fifty day simple moving average of $192.48 and a 200 day simple moving average of $173.23.

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.