Allstate Corp Makes New $1.52 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

Allstate Corp purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the fourth quarter, HoldingsChannel reports. The firm purchased 9,078 shares of the company’s stock, valued at approximately $1,523,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pittenger & Anderson Inc. purchased a new stake in DoorDash in the 4th quarter valued at approximately $29,000. Denver PWM LLC purchased a new stake in shares of DoorDash in the fourth quarter valued at $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash during the fourth quarter valued at $34,000. ORG Wealth Partners LLC purchased a new stake in DoorDash during the 4th quarter worth about $36,000. Finally, IFP Advisors Inc raised its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Down 5.9 %

Shares of NASDAQ DASH opened at $182.61 on Monday. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The business has a 50 day moving average price of $192.00 and a two-hundred day moving average price of $172.39. The firm has a market cap of $76.71 billion, a PE ratio of 676.33 and a beta of 1.70.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,525. This trade represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $170.01, for a total value of $8,500,500.00. Following the completion of the sale, the director now directly owns 16,176 shares of the company’s stock, valued at approximately $2,750,081.76. This represents a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,445 shares of company stock valued at $62,258,130. 7.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DASH has been the topic of several analyst reports. Susquehanna raised their price target on shares of DoorDash from $180.00 to $235.00 and gave the stock a “positive” rating in a research note on Thursday, February 13th. Oppenheimer reaffirmed a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Cantor Fitzgerald increased their price target on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating on shares of DoorDash in a research report on Monday, March 3rd. Finally, Royal Bank of Canada increased their target price on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $207.21.

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.