Korea Investment CORP increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 19.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,546 shares of the company's stock after acquiring an additional 47,676 shares during the quarter. Korea Investment CORP owned about 0.07% of DoorDash worth $48,404,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of DoorDash in the fourth quarter worth $146,094,000. Janus Henderson Group PLC boosted its holdings in DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock worth $789,766,000 after buying an additional 700,465 shares during the period. Amundi increased its stake in DoorDash by 65.0% in the 4th quarter. Amundi now owns 1,407,884 shares of the company's stock worth $244,578,000 after buying an additional 554,675 shares in the last quarter. Franklin Resources Inc. raised its holdings in DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock valued at $570,135,000 after acquiring an additional 501,905 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of DoorDash by 37.5% in the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company's stock valued at $294,701,000 after acquiring an additional 476,360 shares in the last quarter. Institutional investors own 90.64% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Susquehanna increased their target price on DoorDash from $180.00 to $235.00 and gave the stock a "positive" rating in a research report on Thursday, February 13th. Morgan Stanley increased their price objective on shares of DoorDash from $160.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Cantor Fitzgerald boosted their target price on shares of DoorDash from $200.00 to $230.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Citigroup reaffirmed a "buy" rating on shares of DoorDash in a research note on Saturday, March 8th. Finally, Barclays boosted 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. Ten research 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 has an average rating of "Moderate Buy" and a consensus price target of $207.21.
View Our Latest Report on DoorDash
DoorDash Price Performance
NASDAQ DASH traded down $0.35 on Tuesday, hitting $182.42. The company had a trading volume of 3,740,357 shares, compared to its average volume of 4,127,775. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The company's fifty day moving average price is $192.25 and its 200-day moving average price is $173.12. The company has a market capitalization of $76.63 billion, a PE ratio of 675.63 and a beta of 1.70.
Insider Transactions at DoorDash
In related news, CEO Tony Xu sold 108,332 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,525. This represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $185.58, for a total value of $3,711,600.00. Following the completion of the transaction, the chief operating officer now directly owns 887,348 shares in the company, valued at $164,674,041.84. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,445 shares of company stock worth $65,969,730 in the last quarter. Company insiders own 7.92% of the company's stock.
DoorDash Profile
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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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