Fmr LLC Acquires 195,973 Shares of DoorDash, Inc. (NASDAQ:DASH)

FMR LLC boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 17.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,342,890 shares of the company's stock after buying an additional 195,973 shares during the quarter. FMR LLC owned approximately 0.32% of DoorDash worth $225,270,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in DoorDash by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock worth $5,254,501,000 after purchasing an additional 317,502 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after acquiring an additional 949,414 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after acquiring an additional 1,869,866 shares during the last quarter. Geode Capital Management LLC lifted its holdings in DoorDash by 1.9% during the fourth 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 during the period. Finally, Norges Bank bought a new position in DoorDash in the 4th quarter valued at $597,443,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

Shares of DoorDash stock traded up $1.20 on Thursday, hitting $180.59. 682,598 shares of the company traded hands, compared to its average volume of 5,542,509. The business has a 50-day simple moving average of $189.36 and a 200 day simple moving average of $175.90. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.24. The stock has a market capitalization of $75.86 billion, a P/E ratio of 667.89 and a beta of 1.69.

Insiders Place Their Bets

In related news, Director Andy Fang sold 1,398 shares of the firm's 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 completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction on 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 transaction, the chief operating officer now owns 925,222 shares of the company's stock, valued at $167,307,894.26. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,511 shares of company stock worth $30,308,544 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DASH has been the subject of several research reports. Mizuho increased their price target on shares of DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald lowered their price objective on DoorDash from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of DoorDash from $198.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, April 3rd. Loop Capital raised their price objective on shares of DoorDash from $200.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Finally, Roth Mkm increased their price objective on DoorDash from $165.00 to $193.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock 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.