Public Investment Fund Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Public Investment Fund purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 488,020 shares of the company's stock, valued at approximately $81,865,000. DoorDash makes up about 0.3% of Public Investment Fund's investment portfolio, making the stock its 29th biggest position. Public Investment Fund owned approximately 0.12% of DoorDash as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DASH. Voya Investment Management LLC lifted its holdings in DoorDash by 0.5% during the 4th quarter. Voya Investment Management LLC now owns 26,510 shares of the company's stock worth $4,447,000 after buying an additional 122 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in DoorDash during the 4th quarter valued at approximately $237,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of DoorDash by 0.7% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 51,359 shares of the company's stock worth $8,619,000 after purchasing an additional 353 shares during the period. Symmetry Investments LP bought a new stake in shares of DoorDash during the 4th quarter valued at about $2,348,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of DoorDash in the 4th quarter valued at about $237,000. 90.64% of the stock is currently owned by institutional investors.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 15,198 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the transaction, the chief financial officer now directly owns 351,970 shares of the company's stock, valued at approximately $71,840,596.70. The trade was a 4.14 % 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, General Counsel Tia Sherringham sold 12,088 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $2,459,303.60. Following the completion of the sale, the general counsel now directly owns 122,135 shares of the company's stock, valued at $24,848,365.75. The trade was a 9.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,511 shares of company stock worth $30,394,673 in the last ninety days. 7.92% of the stock is owned by company insiders.

DoorDash Trading Down 0.9 %

Shares of DASH stock traded down $1.72 during trading hours on Wednesday, hitting $189.51. 995,733 shares of the company's stock were exchanged, compared to its average volume of 4,219,277. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The company has a market capitalization of $79.61 billion, a PE ratio of 701.89 and a beta of 1.69. The business's 50 day simple moving average is $185.36 and its 200-day simple moving average is $178.58.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Loop Capital upped their price objective on shares of DoorDash from $200.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Wells Fargo & Company increased their price objective on DoorDash from $198.00 to $201.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 3rd. Piper Sandler restated a "neutral" rating and set a $210.00 price objective (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Benchmark reiterated a "buy" rating on shares of DoorDash in a report on Tuesday. Finally, Evercore ISI restated an "outperform" rating on shares of DoorDash in a report on Monday, March 10th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $209.66.

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.