Arizona State Retirement System Boosts Stock Holdings 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, according to its most recent disclosure with the SEC. The institutional investor owned 88,147 shares of the company’s stock after acquiring an additional 618 shares during the period. Arizona State Retirement System’s holdings in DoorDash were worth $14,787,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DASH. IFP Advisors Inc grew its stake in shares of DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after buying an additional 54 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of DoorDash by 34.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after purchasing an additional 69 shares during the period. Avestar Capital LLC boosted its stake in shares of DoorDash by 1.1% during the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock worth $1,110,000 after purchasing an additional 75 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of DoorDash by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after purchasing an additional 84 shares during the period. Finally, Pallas Capital Advisors LLC boosted its stake in shares of DoorDash by 3.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock worth $414,000 after purchasing an additional 88 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Up 0.9 %

Shares of NASDAQ DASH opened at $195.08 on Thursday. The firm has a 50-day simple moving average of $186.41 and a 200-day simple moving average of $164.94. The stock has a market capitalization of $81.95 billion, a price-to-earnings ratio of 722.52 and a beta of 1.70. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.24.

Insider Activity

In related news, insider Keith Yandell sold 4,474 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $177.36, for a total value of $793,508.64. Following the completion of the sale, the insider now owns 114,238 shares of the company’s stock, valued at approximately $20,261,251.68. This represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ravi Inukonda sold 15,198 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 576,536 shares of company stock worth $101,844,949 over the last three months. Insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wedbush lifted their price target on shares of DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Barclays lifted their price target on shares of DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Roth Mkm lifted 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, BMO Capital Markets reiterated an “outperform” rating and set a $240.00 price objective (up previously from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.52.

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.