Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 303,946 shares of the company's stock after purchasing an additional 18,493 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of DoorDash worth $53,178,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of DASH. Pittenger & Anderson Inc. acquired a new position in DoorDash in the fourth quarter valued at about $29,000. Denver PWM LLC acquired a new position in shares of DoorDash in the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC acquired a new position in shares of DoorDash in the 4th quarter worth approximately $34,000. ORG Wealth Partners LLC acquired a new stake in DoorDash during the 4th quarter valued at $36,000. Finally, IFP Advisors Inc raised its position in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after purchasing an additional 54 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,500 shares of the company's stock, valued at approximately $255,525. The trade was a 98.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Tia Sherringham sold 12,088 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $24,848,365.75. This trade represents a 9.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 371,445 shares of company stock valued at $65,969,730. 7.92% of the stock is owned by company insiders.
DoorDash Trading Up 3.8 %
Shares of NASDAQ:DASH traded up $6.98 during trading on Wednesday, hitting $189.40. 2,243,659 shares of the company were exchanged, compared to its average volume of 4,121,366. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The stock has a market cap of $79.56 billion, a price-to-earnings ratio of 700.96 and a beta of 1.70. The firm has a fifty day moving average price of $192.25 and a two-hundred day moving average price of $173.12.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on DASH shares. Morgan Stanley raised their target price on DoorDash from $160.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Roth Mkm boosted 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. Evercore ISI reissued an "outperform" rating on shares of DoorDash in a research note on Monday, March 10th. Barclays raised their price target on shares of DoorDash from $163.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Finally, Bank of America upped their price objective on DoorDash from $205.00 to $245.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $207.21.
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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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