Raymond James Financial Inc. Purchases New Shares in DoorDash, Inc. (NASDAQ:DASH)

Raymond James Financial Inc. purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 870,904 shares of the company’s stock, valued at approximately $146,094,000. Raymond James Financial Inc. owned 0.21% of DoorDash as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in DoorDash by 0.7% during the fourth quarter. Arizona State Retirement System now owns 88,147 shares of the company’s stock valued at $14,787,000 after buying an additional 618 shares during the period. Aigen Investment Management LP grew its position in DoorDash by 31.3% during the fourth quarter. Aigen Investment Management LP now owns 20,021 shares of the company’s stock valued at $3,359,000 after buying an additional 4,767 shares during the period. Proficio Capital Partners LLC acquired a new stake in DoorDash during the fourth quarter valued at $219,000. M&T Bank Corp grew its position in DoorDash by 1.9% during the fourth quarter. M&T Bank Corp now owns 13,903 shares of the company’s stock valued at $2,332,000 after buying an additional 257 shares during the period. Finally, Atria Investments Inc grew its position in DoorDash by 9.2% during the fourth quarter. Atria Investments Inc now owns 11,612 shares of the company’s stock valued at $1,948,000 after buying an additional 977 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

DoorDash stock opened at $178.08 on Friday. The company’s 50 day simple moving average is $186.60 and its 200-day simple moving average is $165.04. The company has a market capitalization of $74.81 billion, a price-to-earnings ratio of 659.56 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.24.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DASH shares. Piper Sandler reiterated a “neutral” rating and issued a $210.00 target price (up previously from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Bank of America lifted their target price on shares of DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of DoorDash in a research report on Thursday, February 6th. Finally, Truist Financial lifted 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. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.52.

Insider Activity

In related news, General Counsel Tia Sherringham sold 12,088 shares of DoorDash stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the completion of the transaction, the general counsel now owns 122,135 shares in the company, valued at approximately $24,848,365.75. The trade was a 9.01 % 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, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the completion of the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $268,110. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 572,062 shares of company stock valued at $101,051,440. Company insiders own 7.92% of the company’s stock.

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.