Geode Capital Management LLC Buys 86,667 Shares of DoorDash, Inc. (NASDAQ:DASH)

Geode Capital Management LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 4,558,821 shares of the company’s stock after acquiring an additional 86,667 shares during the quarter. Geode Capital Management LLC’s holdings in DoorDash were worth $763,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in DoorDash by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after purchasing an additional 317,502 shares during the last quarter. State Street Corp boosted its position in shares of 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 during the period. Franklin Resources Inc. grew its stake in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after buying an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after buying an additional 1,869,866 shares during the period. Finally, Norges Bank bought a new stake in shares of DoorDash during the 4th quarter worth approximately $597,443,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

NASDAQ DASH opened at $189.25 on Thursday. The stock has a market capitalization of $79.50 billion, a P/E ratio of 700.93 and a beta of 1.70. The firm’s 50-day moving average is $192.48 and its two-hundred day moving average is $173.23. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25.

Insider Activity

In other DoorDash news, General Counsel Tia Sherringham sold 12,088 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $2,459,303.60. Following the sale, the general counsel now owns 122,135 shares of the company’s stock, valued at $24,848,365.75. The trade was a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 213,113 shares of company stock valued at $38,998,374. Company insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of several research analyst reports. Cantor Fitzgerald upped their price objective on DoorDash from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. KeyCorp raised their price target on shares of DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Barclays lifted their price objective on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Oppenheimer restated a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $207.21.

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.