California Public Employees Retirement System Acquires 577,610 Shares of DoorDash, Inc. (NASDAQ:DASH)

California Public Employees Retirement System grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 97.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,172,959 shares of the company's stock after buying an additional 577,610 shares during the period. California Public Employees Retirement System owned 0.28% of DoorDash worth $196,764,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc boosted its position in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of DoorDash by 34.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock valued at $46,000 after buying an additional 69 shares during the period. Avestar Capital LLC lifted its stake in shares of DoorDash by 1.1% in the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company's stock valued at $1,110,000 after purchasing an additional 75 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company's stock worth $1,970,000 after buying an additional 84 shares during the period. Finally, Pallas Capital Advisors LLC boosted its position in shares of DoorDash by 3.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company's stock worth $414,000 after purchasing an additional 88 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at DoorDash

In other news, General Counsel Tia Sherringham sold 12,088 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 transaction of $2,459,303.60. Following the completion of the transaction, the general counsel now owns 122,135 shares of the company's stock, valued at approximately $24,848,365.75. This trade represents a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 1,398 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was 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 of the company's stock, valued at approximately $3,006,584.10. This represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,113 shares of company stock worth $38,998,374. Insiders own 7.92% of the company's stock.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $12.86 during mid-day trading on Thursday, hitting $176.40. 4,494,154 shares of the stock traded hands, compared to its average volume of 4,141,168. The company has a market cap of $74.10 billion, a PE ratio of 652.38 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25. The firm has a 50 day simple moving average of $192.48 and a two-hundred day simple moving average of $173.23.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of DoorDash from $163.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Roth Mkm increased their target price on shares of DoorDash from $165.00 to $193.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Piper Sandler reaffirmed a "neutral" rating and issued a $210.00 target price (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Loop Capital increased their price target on shares of DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, February 24th. Finally, Benchmark lifted their price objective on DoorDash from $180.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $207.29.

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.