Franklin Resources Inc. grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,749,810 shares of the company's stock after purchasing an additional 949,414 shares during the period. Franklin Resources Inc. owned approximately 1.14% of DoorDash worth $796,781,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in DoorDash in the fourth quarter worth about $597,443,000. Arrowstreet Capital Limited Partnership raised its holdings in DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock worth $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in DoorDash in the fourth quarter worth approximately $146,094,000. Janus Henderson Group PLC boosted its stake in DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock valued at $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of DoorDash by 97.0% during the 4th quarter. California Public Employees Retirement System now owns 1,172,959 shares of the company's stock valued at $196,764,000 after purchasing an additional 577,610 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.
DoorDash Price Performance
Shares of DoorDash stock traded down $15.26 during trading on Thursday, hitting $173.99. 7,161,083 shares of the company's stock traded hands, compared to its average volume of 4,150,981. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25. The company has a market cap of $73.09 billion, a PE ratio of 644.41 and a beta of 1.70. The firm's fifty day moving average price is $192.48 and its 200 day moving average price is $173.23.
Wall Street Analysts Forecast Growth
DASH has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating on shares of DoorDash in a report on Monday, March 3rd. Wedbush upped their price target on DoorDash from $160.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on shares of DoorDash from $215.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Citigroup reaffirmed a "buy" rating on shares of DoorDash in a research report on Saturday, March 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $200.00 target price on shares of DoorDash in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.29.
Read Our Latest Stock Report on DASH
Insider Buying and Selling at DoorDash
In other news, insider Keith Yandell sold 8,116 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the sale, the insider now owns 105,162 shares in the company, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the sale, the director now directly owns 16,176 shares in the company, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,523 shares of company stock valued at $47,227,120. 7.92% of the stock is currently owned by corporate insiders.
About DoorDash
(
Free Report)
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.
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