Arizona State Retirement System Increases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Arizona State Retirement System boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 88,147 shares of the company’s stock after acquiring an additional 618 shares during the quarter. Arizona State Retirement System’s holdings in DoorDash were worth $14,787,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Aigen Investment Management LP boosted its stake in DoorDash by 31.3% during the fourth quarter. Aigen Investment Management LP now owns 20,021 shares of the company’s stock worth $3,359,000 after buying an additional 4,767 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of DoorDash in the fourth quarter valued at approximately $219,000. M&T Bank Corp boosted its stake in shares of DoorDash by 1.9% in the fourth quarter. M&T Bank Corp now owns 13,903 shares of the company’s stock valued at $2,332,000 after purchasing an additional 257 shares during the period. Atria Investments Inc boosted its stake in shares of DoorDash by 9.2% in the fourth quarter. Atria Investments Inc now owns 11,612 shares of the company’s stock valued at $1,948,000 after purchasing an additional 977 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of DoorDash by 149.9% in the fourth quarter. Assetmark Inc. now owns 8,793 shares of the company’s stock valued at $1,475,000 after purchasing an additional 5,274 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, General Counsel Tia Sherringham sold 12,088 shares of DoorDash stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the transaction, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. This trade represents a 9.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Keith Yandell sold 4,474 shares of DoorDash stock in a transaction on Friday, December 6th. The shares were sold at an average price of $177.36, for a total transaction of $793,508.64. Following the completion of the transaction, the insider now owns 114,238 shares in the company, valued at approximately $20,261,251.68. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 576,536 shares of company stock worth $101,844,949 in the last three months. Insiders own 7.92% of the company’s stock.

DoorDash Trading Up 0.9 %

Shares of DASH opened at $195.08 on Thursday. The firm has a market cap of $81.95 billion, a PE ratio of 722.52 and a beta of 1.70. The company’s 50 day simple moving average is $186.41 and its 200-day simple moving average is $164.94. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.24.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Benchmark raised their price objective on shares of DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barclays raised their price objective on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Loop Capital raised their target price on shares of DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, Evercore ISI raised their target price on shares of DoorDash from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $206.52.

About DoorDash

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.