Employees Retirement System of Texas Buys 8,577 Shares of DoorDash, Inc. (NASDAQ:DASH)

Employees Retirement System of Texas lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 22.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,529 shares of the company’s stock after acquiring an additional 8,577 shares during the quarter. Employees Retirement System of Texas’ holdings in DoorDash were worth $7,973,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $597,443,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in DoorDash in the fourth quarter valued at approximately $146,094,000. Finally, California Public Employees Retirement System increased its holdings in shares of DoorDash by 97.0% during the fourth quarter. California Public Employees Retirement System now owns 1,172,959 shares of the company’s stock valued at $196,764,000 after acquiring an additional 577,610 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 15,198 shares of the 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 transaction, the chief financial officer now directly owns 351,970 shares in the company, valued at $71,840,596.70. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total transaction of $3,616,600.00. Following the completion of the sale, the chief operating officer now owns 925,222 shares of the company’s stock, valued at approximately $167,307,894.26. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,523 shares of company stock worth $47,227,120 in the last ninety days. 7.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Bank of America raised their price objective on DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler restated a “neutral” rating and issued a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Benchmark increased their target price on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada boosted their price target on DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.29.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $163.16 on Monday. The firm has a fifty day moving average of $191.90 and a 200 day moving average of $174.06. The firm has a market cap of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25.

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.