Alliancebernstein L.P. Has $41.98 Million Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Alliancebernstein L.P. lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 15.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 250,267 shares of the company’s stock after acquiring an additional 34,383 shares during the period. Alliancebernstein L.P.’s holdings in DoorDash were worth $41,982,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pittenger & Anderson Inc. bought a new stake in DoorDash in the 4th quarter valued at about $29,000. Denver PWM LLC acquired a new position in DoorDash in the 4th quarter valued at $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash during the 4th quarter valued at $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash during the 4th quarter worth $36,000. Finally, IFP Advisors Inc increased its position in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DASH has been the topic of several recent analyst reports. Barclays raised their target price 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. Roth Mkm boosted their price target on DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Wolfe Research raised their price objective on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Piper Sandler reissued a “neutral” rating and issued a $210.00 target price (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of DoorDash in a research report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.29.

DoorDash Stock Performance

DoorDash stock opened at $163.16 on Friday. The stock has a market cap of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The firm’s 50-day simple moving average is $191.90 and its 200 day simple moving average is $173.77.

Insider Activity at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the transaction, the director now directly owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This represents a 71.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,523 shares of company stock valued at $47,227,120. 7.92% of the stock is owned by insiders.

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.