Advisors Asset Management Inc. Purchases 11,593 Shares of DoorDash, Inc. (NASDAQ:DASH)

Advisors Asset Management Inc. boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 701.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,245 shares of the company’s stock after acquiring an additional 11,593 shares during the quarter. Advisors Asset Management Inc.’s holdings in DoorDash were worth $2,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares during the last quarter. Janus Henderson Group PLC increased its stake in DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Geode Capital Management LLC boosted its position in DoorDash by 6.4% in the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after buying an additional 267,855 shares in the last quarter. Franklin Resources Inc. boosted its position in DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in DoorDash by 7.9% in the third quarter. Two Sigma Advisers LP now owns 3,466,100 shares of the company’s stock valued at $494,716,000 after buying an additional 252,600 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Down 1.2 %

DASH opened at $190.62 on Friday. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25. The company has a market cap of $80.08 billion, a P/E ratio of 706.00 and a beta of 1.70. The company has a fifty day moving average price of $189.72 and a two-hundred day moving average price of $169.70.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore ISI restated an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. Truist Financial raised their target price on shares of DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their target price on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. UBS Group raised their target price on shares of DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley raised their target price on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $206.52.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 108,332 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,525. The trade was a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $169.32, for a total transaction of $1,185,240.00. Following the sale, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at approximately $62,139,254.76. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 363,730 shares of company stock valued at $63,922,178. Corporate insiders own 7.92% of the company’s stock.

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.