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

Geode Capital Management LLC lifted its position in DoorDash, Inc. (NASDAQ:DASH) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,558,821 shares of the company’s stock after buying an additional 86,667 shares during the period. Geode Capital Management LLC owned about 1.10% of DoorDash worth $763,198,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DASH. HighPoint Advisor Group LLC purchased a new stake in DoorDash during the 4th quarter valued at $244,000. Franklin Resources Inc. lifted its holdings in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after purchasing an additional 949,414 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in shares of DoorDash by 53.4% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 11,026 shares of the company’s stock valued at $1,850,000 after buying an additional 3,837 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of DoorDash by 15.9% during the fourth quarter. Alliancebernstein L.P. now owns 250,267 shares of the company’s stock valued at $41,982,000 after buying an additional 34,383 shares during the last quarter. Finally, AIA Group Ltd bought a new stake in DoorDash in the 4th quarter worth about $362,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DASH. Wolfe Research raised their price target on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wedbush raised their target price on shares of DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. UBS Group boosted their target price on shares of DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Argus upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, Bank of America upped their price objective on DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.21.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following the completion of the transaction, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the completion of the sale, the chief operating officer now owns 887,348 shares in the company, valued at approximately $164,674,041.84. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 213,113 shares of company stock worth $38,998,374 in the last quarter. 7.92% of the stock is owned by corporate insiders.

DoorDash Trading Up 3.7 %

Shares of DASH stock opened at $189.25 on Thursday. The stock has a market capitalization of $79.50 billion, a price-to-earnings ratio of 700.93 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The stock’s 50-day moving average price is $192.48 and its 200-day moving average price is $173.23.

DoorDash 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.