Geode Capital Management LLC Grows Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Geode Capital Management LLC lifted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,558,821 shares of the company's stock after purchasing an additional 86,667 shares during the quarter. Geode Capital Management LLC owned about 1.10% of DoorDash worth $763,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash during the fourth quarter worth $29,000. Denver PWM LLC acquired a new stake in DoorDash during the 4th quarter worth about $30,000. Princeton Global Asset Management LLC purchased a new stake in DoorDash during the 4th quarter valued at about $34,000. ORG Wealth Partners LLC acquired a new position in shares of DoorDash in the fourth quarter valued at about $36,000. Finally, IFP Advisors Inc raised its stake in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Trading Up 2.3 %

DASH traded up $3.82 on Monday, hitting $166.98. The company had a trading volume of 3,243,668 shares, compared to its average volume of 4,177,240. The company's fifty day moving average price is $191.90 and its 200 day moving average price is $174.06. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The firm has a market cap of $70.15 billion, a P/E ratio of 612.10 and a beta of 1.69.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 8,116 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $1,651,200.20. Following the completion of the sale, the insider now directly owns 105,162 shares of the company's stock, valued at approximately $21,395,208.90. The trade was a 7.16 % decrease in their position. The transaction 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 business's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares of the company's stock, 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 quarter, 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DASH. Susquehanna raised their target price on shares of DoorDash from $180.00 to $235.00 and gave the stock a "positive" rating in a report on Thursday, February 13th. FBN Securities initiated coverage on DoorDash in a report on Friday, March 28th. They issued an "outperform" rating and a $230.00 price objective for the company. Barclays upped their target price on DoorDash from $163.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 13th. Mizuho boosted their price target on DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, UBS Group raised their price objective on shares of DoorDash from $200.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $207.00.

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.