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

Louisiana State Employees Retirement System lessened its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 3.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in shares of DoorDash by 13.2% during the 3rd 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 during the last quarter. Allspring Global Investments Holdings LLC raised its stake in DoorDash by 216.1% in 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 buying an additional 739,961 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after buying an additional 700,465 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of DoorDash by 5,396.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after acquiring an additional 651,525 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after acquiring an additional 501,905 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Performance

DoorDash stock opened at $200.89 on Thursday. DoorDash, Inc. has a one year low of $99.32 and a one year high of $201.17. The company has a market cap of $83.45 billion, a P/E ratio of -446.42, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72. The business has a fifty day moving average of $178.00 and a two-hundred day moving average of $156.37.

Analysts Set New Price Targets

Several research firms recently weighed in on DASH. Roth Mkm boosted their target price on DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup boosted their price objective on shares of DoorDash from $211.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald increased their target price on shares of DoorDash from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday. Evercore ISI lifted their price target on shares of DoorDash from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday. Nine 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 has an average rating of “Moderate Buy” and a consensus price target of $202.67.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,040,758 shares of company stock worth $181,434,201 over the last 90 days. Company insiders own 7.92% of the company’s stock.

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.