Lord Abbett & CO. LLC Increases Stake in DoorDash, Inc. (NASDAQ:DASH)

Lord Abbett & CO. LLC boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 786,886 shares of the company's stock after buying an additional 36,767 shares during the period. Lord Abbett & CO. LLC owned approximately 0.19% of DoorDash worth $132,000,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DASH. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash in the fourth quarter valued at approximately $29,000. Denver PWM LLC purchased a new position in DoorDash in the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC acquired a new position in shares of DoorDash in the fourth quarter worth $34,000. ORG Wealth Partners LLC acquired a new position in shares of DoorDash in the fourth quarter worth $36,000. Finally, IFP Advisors Inc increased its position in shares of DoorDash by 31.8% during the fourth 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. Institutional investors and hedge funds own 90.64% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on DASH shares. KeyCorp lowered their target price on DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Piper Sandler restated a "neutral" rating and set a $210.00 target price (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. FBN Securities assumed coverage on shares of DoorDash in a research report on Friday, March 28th. They issued an "outperform" rating and a $230.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of DoorDash in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.66.

DoorDash Trading Down 0.9 %

Shares of NASDAQ:DASH traded down $1.63 during trading on Wednesday, hitting $189.60. 1,014,272 shares of the stock were exchanged, compared to its average volume of 4,219,297. The company has a market cap of $79.65 billion, a PE ratio of 702.22 and a beta of 1.69. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The company has a fifty day moving average price of $185.36 and a two-hundred day moving average price of $178.58.

Insider Activity

In other DoorDash news, Director Andy Fang sold 1,398 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the transaction, the director now directly owns 14,778 shares in the company, valued at approximately $3,006,584.10. This represents a 8.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith Yandell sold 8,116 shares of DoorDash stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the sale, the insider now owns 105,162 shares of the company's stock, valued at approximately $21,395,208.90. This trade represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,511 shares of company stock worth $30,394,673 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

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.