Capital World Investors Increases Position in DoorDash, Inc. (NASDAQ:DASH)

Capital World Investors grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 26.4% during the 4th quarter, HoldingsChannel reports. The fund owned 12,153,265 shares of the company’s stock after acquiring an additional 2,538,160 shares during the quarter. Capital World Investors’ holdings in DoorDash were worth $2,038,712,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of DoorDash by 3.3% in the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock worth $28,694,000 after buying an additional 5,539 shares during the period. Sanctuary Advisors LLC increased its stake in DoorDash by 48.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after purchasing an additional 3,498 shares during the period. LVW Advisors LLC bought a new stake in DoorDash in the fourth quarter valued at approximately $236,000. Nordea Investment Management AB boosted its stake in shares of DoorDash by 37.5% during the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock valued at $294,701,000 after purchasing an additional 476,360 shares during the period. Finally, Retireful LLC increased its stake in shares of DoorDash by 121.4% in the fourth quarter. Retireful LLC now owns 9,621 shares of the company’s stock worth $1,614,000 after buying an additional 5,275 shares during the period. 90.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of recent analyst reports. Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Piper Sandler reiterated a “neutral” rating and issued a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Loop Capital upped their target price on DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, February 24th. Citigroup reiterated a “buy” rating on shares of DoorDash in a report on Saturday, March 8th. Finally, Royal Bank of Canada upped their price objective on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $208.88.

DoorDash Stock Performance

NASDAQ DASH opened at $181.24 on Friday. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25. The stock has a 50-day moving average of $188.90 and a 200 day moving average of $176.44. The company has a market capitalization of $76.14 billion, a price-to-earnings ratio of 671.26 and a beta of 1.69.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 1,398 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $284,423.10. Following the transaction, the director now directly owns 14,778 shares in the company, valued at $3,006,584.10. This trade represents a 8.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the sale, the director now owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This trade represents a 71.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,511 shares of company stock worth $30,308,544 over the last three months. 7.92% of the stock is currently owned by company 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.