DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in DoorDash, Inc. (NASDAQ:DASH) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,400 shares of the company’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in DoorDash were worth $4,764,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DASH. Baillie Gifford & Co. grew its stake in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after purchasing an additional 651,525 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 115,432 shares of the stock in a transaction that occurred 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 in the company, valued at $265,515. This represents a 98.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the completion of the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,040,758 shares of company stock valued at $181,434,201. 7.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DASH has been the topic of several research analyst reports. Citigroup lifted their price objective on DoorDash from $211.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald lifted their price target on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $240.00 price objective (up from $180.00) on shares of DoorDash in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Needham & Company LLC upped their target price on shares of DoorDash from $180.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.67.

DoorDash Stock Up 4.0 %

Shares of NASDAQ DASH opened at $200.89 on Thursday. The business’s 50 day moving average is $178.00 and its two-hundred day moving average is $156.37. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $201.17. The firm has a market cap of $83.45 billion, a price-to-earnings ratio of -446.42, a PEG ratio of 2.04 and a beta of 1.72.

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.