Alliancebernstein L.P. Buys 34,383 Shares of DoorDash, Inc. (NASDAQ:DASH)

Alliancebernstein L.P. lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250,267 shares of the company’s stock after buying an additional 34,383 shares during the period. Alliancebernstein L.P. owned about 0.06% of DoorDash worth $41,982,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of DoorDash in the fourth quarter valued at $597,443,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after acquiring an additional 1,869,866 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of DoorDash during the 4th quarter valued at about $146,094,000. California Public Employees Retirement System increased its stake in DoorDash by 97.0% in the fourth quarter. California Public Employees Retirement System now owns 1,172,959 shares of the company’s stock valued at $196,764,000 after acquiring an additional 577,610 shares during the period. Finally, Amundi raised its position in DoorDash by 65.0% in the fourth quarter. Amundi now owns 1,407,884 shares of the company’s stock worth $244,578,000 after purchasing an additional 554,675 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DASH shares. Needham & Company LLC reissued a “buy” rating on shares of DoorDash in a report on Monday, March 3rd. Cantor Fitzgerald upped 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. JPMorgan Chase & Co. boosted their price target on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $240.00 target price (up previously from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. Finally, Truist Financial increased their price target on DoorDash from $217.00 to $235.00 and gave the stock 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. According to MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $207.29.

DoorDash Stock Performance

NASDAQ:DASH opened at $163.16 on Friday. The stock’s 50-day simple moving average is $191.90 and its 200 day simple moving average is $173.77. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The company has a market cap of $68.54 billion, a P/E ratio of 604.30 and a beta of 1.69.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 366,993 shares in the company, valued at $67,233,117.60. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 258,523 shares of company stock valued at $47,227,120. 7.92% of the stock is owned by insiders.

About DoorDash

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.