Principal Financial Group Inc. Has $15.67 Million Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Principal Financial Group Inc. increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,382 shares of the company's stock after purchasing an additional 2,596 shares during the quarter. Principal Financial Group Inc.'s holdings in DoorDash were worth $15,665,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DASH. International Assets Investment Management LLC acquired a new stake in shares of DoorDash during the 3rd quarter valued at about $1,772,000. Wealth Enhancement Advisory Services LLC lifted its stake in DoorDash by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,660 shares of the company's stock worth $1,664,000 after purchasing an additional 942 shares during the period. Pallas Capital Advisors LLC acquired a new stake in DoorDash during the third quarter valued at approximately $364,000. Smith Group Asset Management LLC acquired a new position in shares of DoorDash in the 3rd quarter worth approximately $313,000. Finally, abrdn plc lifted its position in shares of DoorDash by 63.5% during the 3rd quarter. abrdn plc now owns 72,389 shares of the company's stock worth $10,332,000 after buying an additional 28,127 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 115,432 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the sale, the chief executive officer now directly owns 1,500 shares of the company's stock, valued at approximately $265,515. This represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Keith Yandell sold 8,116 shares of DoorDash stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the completion of the transaction, the insider now directly owns 105,162 shares of the company's stock, valued at approximately $21,395,208.90. This trade represents a 7.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 760,662 shares of company stock valued at $134,448,673. 7.92% of the stock is owned by insiders.

DoorDash Stock Performance

DoorDash stock traded up $7.33 during mid-day trading on Wednesday, reaching $198.60. The company's stock had a trading volume of 4,483,930 shares, compared to its average volume of 3,478,165. The business's 50 day simple moving average is $183.18 and its 200 day simple moving average is $162.29. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.24. The company has a market capitalization of $83.43 billion, a price-to-earnings ratio of 735.56 and a beta of 1.72.

Analyst Upgrades and Downgrades

A number of research firms have commented on DASH. Wells Fargo & Company boosted their price target on shares of DoorDash from $166.00 to $198.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Morgan Stanley increased their target price on DoorDash from $160.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. The Goldman Sachs Group lifted their price target on DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Barclays increased their price objective on shares of DoorDash from $163.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Finally, 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 research note on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $206.52.

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.