iA Global Asset Management Inc. Has $8.54 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

iA Global Asset Management Inc. increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,907 shares of the company’s stock after acquiring an additional 11,699 shares during the period. iA Global Asset Management Inc.’s holdings in DoorDash were worth $8,540,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in shares of DoorDash by 3.8% during the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of DoorDash by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after acquiring an additional 267,855 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after acquiring an additional 501,905 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of DoorDash by 7.9% during the 3rd quarter. Two Sigma Advisers LP now owns 3,466,100 shares of the company’s stock valued at $494,716,000 after acquiring an additional 252,600 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DASH has been the topic of several recent research reports. Piper Sandler reiterated a “neutral” rating and set a $210.00 target price (up from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. Wedbush boosted their price target on shares of DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. UBS Group boosted their price target on shares of DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.52.

Insider Activity at DoorDash

In other news, General Counsel Tia Sherringham sold 12,088 shares of the company’s 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 $24,848,365.75. This represents a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the completion of the transaction, 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. Over the last 90 days, insiders sold 363,730 shares of company stock worth $63,922,178. 7.92% of the stock is currently owned by company insiders.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $192.93 on Friday. The stock has a market cap of $81.05 billion, a P/E ratio of 714.56 and a beta of 1.70. The firm has a 50 day moving average price of $189.31 and a 200 day moving average price of $168.96. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week 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.