Alberta Investment Management Corp cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 32.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 281,497 shares of the company's stock after selling 135,737 shares during the quarter. Alberta Investment Management Corp owned approximately 0.07% of DoorDash worth $47,221,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Rakuten Securities Inc. boosted its stake in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash in the fourth quarter worth $29,000. Princeton Global Asset Management LLC purchased a new position in shares of DoorDash during the fourth quarter worth $34,000. ORG Wealth Partners LLC purchased a new position in shares of DoorDash during the fourth quarter worth $36,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock worth $46,000 after purchasing an additional 69 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.
DASH stock opened at $211.97 on Wednesday. The company has a market cap of $88.05 billion, a price-to-earnings ratio of 785.07 and a beta of 1.72. The business has a fifty day simple moving average of $180.80 and a 200-day simple moving average of $159.55. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25.
Several research firms have recently weighed in on DASH. Cantor Fitzgerald raised their target price on DoorDash from $200.00 to $230.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Needham & Company LLC raised their target price on DoorDash from $180.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. JMP Securities reissued a "market outperform" rating and set a $200.00 target price on shares of DoorDash in a research note on Thursday, February 6th. The Goldman Sachs Group raised their price target on DoorDash from $192.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Finally, Susquehanna lifted their target price on DoorDash from $180.00 to $235.00 and gave the stock a "positive" rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.45.
Read Our Latest Report on DASH
In related news, CEO Tony Xu sold 115,432 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $265,515. This represents a 98.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $180.83, for a total value 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 represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 817,544 shares of company stock worth $143,328,536 in the last ninety days. Insiders own 7.92% of the company's stock.
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.
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