Allstate Corp Acquires New Position in DoorDash, Inc. (NASDAQ:DASH)

Allstate Corp bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,078 shares of the company’s stock, valued at approximately $1,523,000.

A number of other large investors have also recently added to or reduced their stakes in DASH. IFP Advisors Inc increased its position in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after acquiring an additional 54 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after purchasing an additional 69 shares in the last quarter. Avestar Capital LLC boosted its position in shares of DoorDash by 1.1% during the fourth quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after buying an additional 75 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of DoorDash by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock valued at $1,970,000 after buying an additional 84 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in shares of DoorDash by 3.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after buying an additional 88 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Price Performance

DoorDash stock opened at $182.61 on Monday. The business has a 50 day simple moving average of $192.00 and a 200-day simple moving average of $172.39. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The stock has a market capitalization of $76.71 billion, a PE ratio of 676.33 and a beta of 1.70.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays lifted their target price on DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. FBN Securities began coverage on shares of DoorDash in a research note on Friday. They set an “outperform” rating and a $230.00 target price on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $240.00 target price (up from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Roth Mkm boosted their price target on shares of DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI reiterated an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.21.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 in the company, valued at approximately $255,525. The trade was a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 15,198 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value of $3,102,063.78. Following the completion of the sale, the chief financial officer now directly owns 351,970 shares of the company’s stock, valued at $71,840,596.70. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,445 shares of company stock worth $62,258,130. 7.92% of the stock is owned by insiders.

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.