Sei Investments Co. Increases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Sei Investments Co. grew its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 13.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 305,371 shares of the company’s stock after buying an additional 37,267 shares during the quarter. Sei Investments Co.’s holdings in DoorDash were worth $51,227,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in DASH. Raymond James Financial Inc. acquired a new stake in shares of DoorDash in the fourth quarter valued at approximately $146,094,000. Janus Henderson Group PLC increased its holdings in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares during the period. Amundi raised its position in DoorDash by 65.0% in the 4th quarter. Amundi now owns 1,407,884 shares of the company’s stock valued at $244,578,000 after purchasing an additional 554,675 shares during the last quarter. Franklin Resources Inc. boosted its stake in DoorDash by 15.2% during the 3rd 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 during the period. Finally, Nordea Investment Management AB grew its position in DoorDash by 37.5% during the 4th quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock worth $294,701,000 after purchasing an additional 476,360 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Mizuho upped their target price on shares of DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Bank of America lifted their target price on DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler restated a “neutral” rating and set a $210.00 price target (up previously from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $240.00 price objective (up from $180.00) on shares of DoorDash in a research report on Wednesday, February 12th. Finally, Susquehanna upped their price objective on shares of DoorDash from $180.00 to $235.00 and gave the stock a “positive” rating in a research report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $206.52.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $170.01, for a total transaction of $8,500,500.00. Following the completion of the transaction, the director now owns 16,176 shares of the company’s stock, valued at $2,750,081.76. This represents a 75.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at $255,525. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 363,730 shares of company stock valued at $63,922,178. Company insiders own 7.92% of the company’s stock.

DoorDash Price Performance

DoorDash stock opened at $190.62 on Monday. The stock has a market capitalization of $80.08 billion, a P/E ratio of 706.00 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The firm’s 50-day moving average is $189.72 and its two-hundred day moving average is $170.01.

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.