National Pension Service Lowers Stock Position in DoorDash, Inc. (NASDAQ:DASH)

National Pension Service cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 411,560 shares of the company’s stock after selling 18,689 shares during the period. National Pension Service’s holdings in DoorDash were worth $69,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Los Angeles Capital Management LLC lifted its holdings in shares of DoorDash by 18.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 505,552 shares of the company’s stock worth $84,806,000 after purchasing an additional 80,419 shares during the period. Amalgamated Bank lifted its holdings in shares of DoorDash by 3.4% during the fourth quarter. Amalgamated Bank now owns 23,103 shares of the company’s stock worth $3,876,000 after purchasing an additional 768 shares during the period. IFP Advisors Inc lifted its holdings in shares of DoorDash by 31.8% during 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. Y Intercept Hong Kong Ltd acquired a new stake in shares of DoorDash during the fourth quarter worth $1,724,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in DoorDash by 1.7% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 70,100 shares of the company’s stock valued at $11,759,000 after acquiring an additional 1,200 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $176.66, for a total value of $8,833,000.00. Following the completion of the sale, the director now owns 16,176 shares of the company’s stock, valued at $2,857,652.16. The trade was a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 115,432 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $265,515. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 753,662 shares of company stock valued at $133,190,353 over the last quarter. Insiders own 7.92% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $195.84 on Friday. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.24. The business has a 50-day moving average of $184.40 and a two-hundred day moving average of $162.77. The stock has a market capitalization of $82.27 billion, a P/E ratio of 725.33 and a beta of 1.72.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DASH. Morgan Stanley lifted their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Roth Mkm lifted their price objective on DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Benchmark lifted their price target on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a report on Thursday, February 6th. Finally, UBS Group boosted their target price on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $206.52.

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.