DoorDash, Inc. (NASDAQ:DASH) Stock Position Lessened by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,607 shares of the company’s stock after selling 893 shares during the quarter. New York Life Investment Management LLC’s holdings in DoorDash were worth $941,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Baillie Gifford & Co. grew its stake in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. State Street Corp boosted its stake in DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after buying an additional 272,659 shares in the last quarter. Janus Henderson Group PLC boosted its stake 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 buying an additional 700,465 shares in the last quarter. Geode Capital Management LLC boosted its stake in DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after buying an additional 267,855 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus raised DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Morgan Stanley upped their target price on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. KeyCorp upped their target price on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Wolfe Research increased their price objective on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Evercore ISI increased their price objective on DoorDash from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.52.

DoorDash Price Performance

DoorDash stock opened at $198.10 on Tuesday. The company has a market capitalization of $83.22 billion, a PE ratio of 733.70 and a beta of 1.72. The business has a 50 day simple moving average of $185.52 and a 200 day simple moving average of $164.27. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.24.

Insiders Place Their Bets

In other DoorDash news, insider Keith Yandell sold 4,474 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $177.36, for a total value of $793,508.64. Following the transaction, the insider now owns 114,238 shares of the company’s stock, valued at approximately $20,261,251.68. The trade was a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 15,198 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total value of $3,102,063.78. Following the sale, the chief financial officer now owns 351,970 shares of the company’s stock, valued at approximately $71,840,596.70. The trade was a 4.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 576,536 shares of company stock valued at $101,844,949. 7.92% of the stock is currently owned by corporate insiders.

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.