DoorDash, Inc. (NASDAQ:DASH) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 97.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,172,959 shares of the company’s stock after buying an additional 577,610 shares during the period. California Public Employees Retirement System owned approximately 0.28% of DoorDash worth $196,764,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Pittenger & Anderson Inc. purchased a new position in DoorDash in the fourth quarter valued at about $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash in the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash during the 4th quarter valued at about $34,000. ORG Wealth Partners LLC acquired a new position in DoorDash during the 4th quarter worth approximately $36,000. Finally, IFP Advisors Inc boosted its holdings in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after acquiring an additional 54 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 14,715 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $196.52, for a total value of $2,891,791.80. Following the transaction, the chief financial officer now owns 338,055 shares of the company’s stock, valued at approximately $66,434,568.60. This represents a 4.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total value of $18,454,356.20. Following the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,525. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 351,445 shares of company stock valued at $62,258,130. Corporate insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of DoorDash in a research note on Thursday, February 6th. FBN Securities began coverage on shares of DoorDash in a report on Friday. They issued an “outperform” rating and a $230.00 price objective on the stock. Wells Fargo & Company raised their target price on DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Argus upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, Piper Sandler restated a “neutral” rating and set a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.21.

DoorDash Price Performance

NASDAQ DASH opened at $182.61 on Monday. The company’s 50 day simple moving average is $192.00 and its 200 day simple moving average is $172.39. The firm has a market capitalization of $76.71 billion, a PE ratio of 676.33 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25.

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.